GSquare Group, a major plot promoter, is foraying in to developing apartments and villas and will invest nearly ₹1,000 crore in the next two years in this expansion. The first project will come up at Vandalur in about 6 acres where it will construct 52 apartments, 28 villas and 154 plots, said the company’s COO Junaith Babu.

The expansion will see villas and apartments introduced in both existing and upcoming sites, alongside the brand’s plotted developments. The apartment will start at ₹35 lakh for a single bed room; the villa upwards of ₹90 lakh and the plot starting at ₹30 lakh, he told businessline.

Diversification

On the diversification, Babu said, many clients who bought plots from the company were interested in buying apartments and villas too.

He said in the last 12 years, the company’s promoter, Bala Ramajeyam, has aggregated over 2,000 acres in the three southern States—Tamil Nadu, Andhra Pradesh and Karnataka. The market value of these would be nearly ₹8,000 crore. Some of the large companies, including Ceat and JK Tyres, in Oragadam were built on land aggregated by G Square, he added.

To date, GSquare has completed over 127 projects, catered to over 15,000 customers and aggregated nearly 4,000 acres of prime land, Babu said.

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