Baashyaam Constructions is coming up with an uber-luxury twin-tower project at the place of the landmark five-star Hotel Crowne Plaza Chennai Adyar Park. The project is located close to the Boat Club (one of the most expensive addresses in Chennai) and will occupy 4.5 acres of land parcel.
The residential twin towers will be developed on a part-cash, part-development basis over 1.5 acres of land. The estimated deal value for this project is INR 10 Crore to INR 12 Crore per ground (1 ground – 2,400 SqFt).
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The proposed project will comprise 130 residential apartments priced at approximately INR 30,000 per SqFt (or INR 15 Crore to INR 21 Crore). An individual apartment is proposed to be 5000 to 7000 SqFt in size. As of November 2023, Baashyaam is awaiting approvals from the state government for premium FSI (Floor space index).
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