The four-star hotel will have a single tariff of Rs 2,500 for both foreigners and Indian guests.
The Rs 71-crore Residency group based out of Chennai has launched its first premium four-star hotel, Residency Towers, in the city.
The new facility in the heart of the city is a 50:50 joint venture between the Delhi-based Sood & Sood Builders and SAS Hotels Enterprises, the hospitality arm of the Appaswamy Group.
Ravi Appaswamy, the managing director of Residency Group of Hotels, said on the occasion: "Residency Towers has been built at a cost of Rs 50 crore. We expect this new project to break even within six years.