ETA Star to set up IT SEZ

By OUR CORRESPONDENT

Chennai

Aug 7: The $5.5 billion ETA Star group will set up three residential, two commercial, one IT park and an integrated township project in Tamil Nadu.

"Currently ETA Star is developing over 30 million sq ft that translates into thousand of homes, commercial, retail and hospitality properties across the globe. Of this, around eight million sq ft will come up in India," said Mr P. H. M. Syed Ismail, managing director of ETA Star Property Developers Ltd.

In India the company has completed a luxury apartment project in Bangalore and the second project is under development.

Most of other projects are in Tamil Nadu. The company is developing a 350 acre integrated township project in Sriperumpudur.

"We will soon commence this project in pilot basis. In the initial phase we will develop 7.2 acres land that will have a hotel commercial and a multiplexes. This phase will have 5.5 lakh sq ft. In the second phase,we will develop another 30 acres land," he said.

Mr Ismail added, "The new project coming at Padur- OMR, the IT corridor of Chennai, will have 444 housing apartments. The flats ranging from Rs 30 lakh to Rs 60 lakh is mainly targeting NRI’s, IT professionals and the upper middle-class and will have all conveniences required for modern urban living."

This project will be completed in the next two years.