Inno Real Estate Launches GeoCity in Oragadam
Inno Real Estate, a division of the global investment group Inno, has launched its inaugural self-developed residential project, ‘Inno GeoCity,’ in Oragadam, near Chennai. Inno, with operations across India, the Middle East, and Europe, focuses primarily on Indian real estate investments.
GeoCity: Inno's First Self-Developed Project
Rajamannar Ramaswamy, the Group Managing Director of Inno, announced on Monday that GeoCity represents a significant milestone as the company's first self-developed project. Previously, the company's primary focus was funding external projects, with six ongoing projects in India boasting a total gross development value (GDV) of Rs. 2,600 crore.
A Self-Contained Township with Extensive Amenities
According to Sajid Sathak, Managing Director of Inno Real Estate, the 131-acre GeoCity project is envisioned as a self-contained township, with a projected GDV of Rs. 750 crore. The township will comprise 4,000 residential units and offer a comprehensive range of amenities, including a shopping mall, a school, and medical facilities, catering to the diverse needs of its residents.
Phase One and Housing Options
The initial phase of GeoCity will encompass 1,000 residential units, slated for completion within 1.5 years. Prospective homeowners can choose from three distinct housing categories: Row House I, Row House II, and twin houses, with prices ranging from Rs. 17 lakh to Rs. 22 lakh, offering affordable housing solutions in the burgeoning Oragadam area.
"GeoCity is the first own development project of Inno. Till now, they just used to fund other projects and they have already six Indian projects with a total gross development value (GDV) of Rs. 2,600 cr."
"Geocity, which is spread over an area of 131 acres would be a self-contained township and that it would have a GDV of Rs. 750 cr. 4,000 residential units would be available for buyers plus amenities such as shopping mall, school and medical facilities would be there."