Urban infrastructure firm SSI has entered into a joint development agreement with a consortium of Unitech and Arihant Foundation to develop a 70-acre integrated township in Chennai.
SSI stated that the joint development venture, based on 43:57 revenue sharing model, is expected to generate Rs 2000 crore cash flow for the company.
With approximately 4000 units and a total build up area of 7 million sq.ft the project is expected to be completed over 7 years. The project will be mainly developed as a residential township with supportive retail and commercial space.
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