Electro Constructions acquires additional land on ECR & launches second residential project

Chennai, August 25, 2007:- Chennai based Electro Constructions, a part of the Rs 100 crore Electro Group today announced, that it has acquired an additional 15 acres to its existing land bank on the ECR and launched its second leisure home community- “Little India”. Electro Constructions is betting big on the niche segment of lifestyle oriented and first time home buyers in the city and is investing INR 10 crores on the new land acquisition and development of ‘Little India’. ‘Little India’ will cater to the growing market among corporate executives and IT professionals, for full-fledged homes outside the over crowded city limits. The launch of Electro’s new project is post, the encouraging response to Electro’s pilot holiday home project ‘The Village’, on the same stretch, which is fully sold and ready for delivery.

‘Little India’ will comprise of 40 aesthetically designed units, priced in the range of 10 to 15 lakhs, to suit the pockets of ‘leisure home’ buyers. Located amidst uninhabited spaces on ECR, with amenities such as landscaped gardens, a swimming pool, clubhouse, children’s play area, etc., these homes will allow individuals to shut off maddening crowds, hectic work schedules, noise, traffic and pollution. The project is scheduled for completion by mid 2008.

Commenting on the new project, Brij Khandelwal, Chairman, Electro Constructions said, “Sub-urban areas such as ECR have no stopping, in them becoming commercial hubs in a few years from now, thanks to the sprawling IT parks that line the stretch. Moreover, these locations promise to become a part of the city in the next five years. A good investment option and a week-end resort for stressed executives today, these leisure homes, are sure to become living nests for the future. Moreover, we have the benefit of home financing and deferred payment options.”

The Rs.100 crore diversified Electro group floated a new company called Electro Constructions Pvt. Ltd in 2003. Electro Constructions has built over 60,000 sq.ft in Chennai city and sub-urbs in the last 4 years. Founded in 1986 by Brij Khandelwal, Electro Group has more than 20 years of business expertise across diversified segments and is among the largest players in the polymer trading and imports business.

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