ETA Star to set up integrated township - Globevill at Sriperumbudur

Globevill is an integrated township at Sriperumbudur. This project is a joint venture between ETA Star Chennai and TIDCO(Tamilnadu Industrial Development Corporation) located on the Chennai Bangalore Highway, right opposite Saint Gobain glass factory is by far the biggest property developed by ETA Star Chennai and is spread over 450+ acres of area, of which the 82 acres first phase shall be announced in July. The most significant aspect of Globevill project is its outstanding location, which is right across the SIPCOT area and which ensures a comfortable access to more than 30 small and large MNC and Indian Factories in the vicinity of 1-5 Kms, including some of the biggest names like, Samsung, Flextronics, Saint Gobain, Caparo, Motorola, Dell, Asian Paints, Borg Warner, BMW, Foxconn, Mitsubishi. The township will not only ensure that the travel time for the people working in the corridor and travelling from Chennai gets cut by atleast 2.5 hours on a daily basis but will also ensure that you get to spend daily quality time with your loved ones.

The Integrated Township has been planned to house 1BHK to 3 BHK Apartments with a large range of units starting from 600 sft and going upto 1195 sft, and with some of the amenities like Club House, Ryan International School, Commercial Space, Restaurant, Hotel, Hospital, Swimming Pool, ATM Centre, Convenience Stores, Landscaped Area, Children?s play area and Sewage treatment plant being planned in the township it becomes one of the most amazing investment opportunity for anyone planning to invest in property in the times to come.

With the Tamilnadu government treating the highway as the Road of the Future, Sriperumbudur Industrial Corridor is booming with investments flowing in from across the world thereby making it a brilliant investment avenue for anyone and with the price of a luxurious 2 BHK apartment starting from 12.5 lac onwards the project is expected to be a grand success.

The first phase of the project will house 2,000 residential units and come up on 82 acres. According to company officials, work on the first phase had already begun.

The residential project in the first phase will house flexi-sized flats ranging from 595 sq. ft. to 1,196 sq. ft. It is expected to go on stream in the next 18-24 months. The company has come out with an initial offer price of Rs. 2,200 per sq. ft. The first phase will involve an investment of around Rs. 600 crore. Top company officials told a press conference here on Tuesday that the first phase would have a debt-equity ratio of 1:1.2. ETA Star, according to Ahamed Shakir, Managing Director, had already initiated parleys with State Bank of India to raise the debt portion (about Rs. 140 crore) of the project cost. The land acquisition cost for developing 82 acres in the first phase worked out to Rs. 120 crore.

The residential component in first phase of the project would be around 80 per cent, a top official said. ETA Star had already acquired around 450 acres in that area at an estimated investment of Rs. 400 crore.

The proposed `Globevill Township' would have a full-fledged school, a hospital and business hotel. It would also have retail, recreational and shopping spaces for all its residents.