Press Release27 Aug 2024, 08:46 pm
Arihant Foundations & Housing Ltd. to Develop 3L Sq.ft Office in Collaboration with Empee Hotels - Estimated Investment of INR 522 Crore
AI Summary
Arihant Foundations & Housing Ltd. has announced a joint development agreement (JDA) with Empee Hotels for a commercial development project adjacent to the Hilton Chennai. The project is estimated to cost INR 522 crore, with additional investments of INR 300 crore and INR 91 crore for road infrastructure developments in Tirunelveli. The highways department is working on a western bypass and a link road, as well as an overbridge to replace a level crossing. The project in Chennai is scheduled for completion by May next year.
Key Highlights
- Arihant Foundations & Housing Ltd. and Empee Hotels to develop a 3L Sq.ft office space in Chennai.
- The project is estimated to cost INR 522 crore, with additional investments in Tirunelveli road infrastructure developments.
- The Chennai project is scheduled for completion by May next year.
- Tirunelveli developments include a western bypass, a link road, and an overbridge to replace a level crossing.
- The total investment in infrastructure developments in Tirunelveli is estimated to be INR 411 crore.