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Shriram Properties Launches Chennai's Finest Integrated Project: Park 63 at Shriram The Gateway
Business Standard  |  February 19, 2019

Press Trust of India Chennai

Real estate giant Shriram Properties has announced the launch of a brand new residential project, Park 63 located within their integrated township, Shriram The Gateway on GST Road, Chennai with residences, offices and mall. The project is situated just off Tambaram, right next to the 1,500 acre Vandalur green reserve.


The apartments available at Park 63 have been grouped into three categories: Smart Homes, Optima Homes and Ultima Homes. The 1BHK apartments start at Rs. 35 lakhs while the 3BHK homes start at Rs. 74 lakhs.


Park 63 is strategically located in GST Road, a growing investment hub in Chennai that is all set for a wave of appreciation. Speaking about the prime location of the project, Murali M, Chairman & Managing Director of Shriram Properties said, "Park 63 offers residents excellent connectivity by road, rail and even by air. It is located right opposite the Perungalathur railway station, from where a number of suburban trains run to different locations in the city. It is also next to arterial roads such as the Chennai Bypass and Outer Ring Road. For those working in and around OMR, they can take the Vandalur-Kelambakkam Road or the Tambaram- Sholinganallur Road for a hassle-free daily commute. Park 63 is also located just 20 minutes from the airport."


Shriram The Gateway already has fully-functioning office spaces which are home to companies like Accenture and Sutherland within the township, employing around 25,000 people in total, with plans to expand to 50,000 in the near future. Describing the decision to open up residential spaces within the township, Murali M, Chairman & Managing Director of Shriram Properties explained, "In the last four years, integrated townships have seen an ROI of 100% while standalone projects have shown an appreciation of only 27-40%. One of the reasons for this is that projects within townships offer high rental yield for homeowners due to the large number of people working within them. Coupled with this, home loans interest rates are the lowest they have been in the last 10 years, making real estate purchases even more accessible. By investing in a home at Park 63, home buyers can take advantage of the high returns and appreciation value and unmatched conveniences that living within an integrated township offers".


Aside from the investment perspective, Park 63 provides residents with unique lifestyle amenities and conveniences. Envisioned as a largely self-sustaining township, the project includes a 0.5 million sq.ft shopping mall, a restaurant and a multiplex that is just a 5-minute walk away. Huge employment hubs such as Oragadam, MEPZ and Mahindra World City are also in close proximity to the project, making it more attractive for those working in these areas.


As a special limited period launch offer, Shriram Properties has announced extra-savings on pre-booking of a home at Park 63. By pre-booking with just Rs. 90,000 and a non-refundable amount of Rs. 10,000, investors can get a cashback of Rs. 90,000.