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Shriram Properties new projects on board

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As per to the source claiming at the www.propertykhazana.com, Shriram Group’s subsidiary Shriram Properties has planned to develop 15 shopping malls and 70-80 budget hotels in coming couple of years. Each mall will attract an input of Rs. 250 Crores, as Rs. 30-40 Crores will be invested on each budget hotel. To begin with, company will undertake malls with leasable area 2 Million Sq.ft with joint input of Rs. 750 Crores in the cities like Chennai, Vizag and Kolkata.
MD of Shriram properties, M Murali said to the www.propertykhazana.com that, “We are gazing for associates who can promote mall and hospitality ventures. Company is also having proposals to raid into low-prices reasonable residential sector in the future. In Cities like Bengaluru, company will open ventures with residential units ranging from Rs. 15 Lakhs for per unit and in Tier II cities budget residences will be at Rs. 10 Lakhs per unit.”
SS Asokan, Executive Director of Shriram Properties said at the www.propertykhazana.com that, “Company is carrying out negotiations with international players to support mall and hotel ventures. Company is discussing with retail and hospitality monsters in US, Europe and Japan, budget hotels will be endorsed both in Tiers I & II cities, he added.
Murali said that, “Realty market has now observed about 20% fall and will further decline by additional 5-10% in coming 6-9 months. But it will retain after the general polls in US and India”. At present company is having property bank of 1,520 acres across the country and is developing ventures in 73 Million Sq.ft. For more updates on realty market browse www.propertykhazana.com.
Source: NBTVLIVE

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