Sobha Developers, a Bangalore-based real estate developer likely to enter into Chennai residential market by launching two ventures with a combined project size of over Rs 400 crore. This was the second residential project by the developer in the state after its projects in Coimbatore although the company was executing contractual projects for IT firms Infosys and Dell in Chennai.
The company is going to developed Sobha Merrita at Kelambakkam over six acres with various amenities and has a project size of Rs 300 crore. It is also launching Sobha Serene at Porur over 3.15 acres with project size of Rs 120 crore.
As of September 30, 2011, Sobha Developers had completed 73 real estate and contractual projects with a total developed area of 47.37 million sq.ft. It currently has 45 ongoing real estate projects in six cities across the country.