TNHB was earlier renting out 48 flats in Varaganeri near Palpannai (Chennai-Trichy NH and Thanjavur-Trichy NH intersection) to the public. With the structure stability deteriorating, TNHB proposed to demolish the existing flats and build a high-rise residential project with amenities like covered car parking, multiple elevators, power back up, green space for children and CCTV security.
The HIG block with 14 floors will have 56 units, each measuring 1,500 to 1,575sqft floor area. All the units will have three bedrooms and are likely to be sold at Rs 69 lakh per unit. “Since our site is close to multiple national highways, markets and hospitals, the demand was overwhelming during our market research. The flats will be in premium standard, special attention is given to the quality of flooring and elevation,” a senior official with TNHB Trichy said.
TNHB has also applied for administrative sanction to launch a high-rise residential tower each for MIG (14 floors) and LIG (13 floors) categories. A total of 192 units in three different categories will be sold to the public.
“We will notify the sales soon. People can pay the project cost in instalments as the construction progresses,” the official added. The HIG project is anticipated to be completed before April 2023 while the LIG and MIG projects will take two years each to conclude once the work begins.
TNHB is already constructing a separate high-rise project in Mannarpuram for state government employees.