PR Group, a real estate developer, has entered a memorandum of understanding (MoU) with the government of Tamil Nadu at the Global Investors Meet 2019.

The company will make an investment to the tune of Rs 5,500 crore in the state.

The Group has committed to invest over the next seven years in a number of projects across Chennai, including an integrated township spread across 65 acre at Binny Mills, near Perambur.

The SPR City Project will include India’s largest multi-commodity wholesale trade centre called Market of India, residential towers, world-class school, mall and office buildings.

The Market of India project is expected to create direct and indirect employment opportunities for more than 1,33,000 people. One third of the jobs will be direct, that is, one job for every 150 sq ft while the remaining two-thirds will be indirect.

Of the over 5.5 million sq ft planned, three million sq ft be dedicated to shopping area and 2.5 million sq ft will be infrastructure, warehousing and parking.

The multi-commodity wholesale trade centre will have more than 5,000 shops and 300 retail outlets with world-class infrastructure, warehousing, logistics supply and trade ecosystem. Moreover, around 1,500 traders have already inked expressions of interest (EoI).

For residential development, SPR City has already received approval for constructing 45 towers and 85 bungalows. Shri Ram Universal School from founders of Shri Ram and Lady Shri Ram College, Delhi has also agreed to set up a school at SPR City.

here is company details.

 

NOTE :You need to login first to access this feature.