Real estate company Sobha Developers Ltd has entered the Chennai’s residential market with two projects at an outlay of Rs 420 crore. These are: a 556-unit luxury apartment project, Sobha Meritta, at Kelambakkam, Old Mahabalipuram Road on six acres and a 176-unit luxury apartment — Sobha Serene — at Senneerkuppam, near Porur on 3.15 acres.
The company expects a project outlay of Rs 300 crore for Sobha Meritta and Rs 120 crore for Sobha Serene, said T P Sanjaya Sarathy, regional director for Tamil Nadu, Sobha Developers Ltd. Funds for the projects have already been lined up.
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