Shriram Properties launches IT SEZ

Written by Agencies | Chennai, September 29: | Updated: Sep 29 2007, 21:01pm hrs
Shriram Properties Ltd announced the launch of its IT SEZ 'The Gateway' being developed at an investment of Rs 1,400 crore near Tambaram on the outskirts of the city.

Spread over four million square feet, the zone is being developed in four phases. The SEZ would comprise a mall and service apartments, Chief Operating Officer R Murugesan said.

The first phase, comprising one million square feet, would be completed by February 2008, he said, adding that 3.5 lakh square feet of space would be completed every quarter.

The mall would be fully functional by 2009, he added.

The investment into the project is funded through a 50:50 equity between a leading real estate investor Sun Apollo and Shriram Properties, while Jones Lang La Salle Meghraj would be marketing the project, Murugesan said.