Urbanrise acquires 96.5 acre of land parcel in Chennai

Property developer Urbanrise, an Alliance Group company, has acquired 96.5 acre of land parcel at Tambaram from Vees Properties Limited to develop an integrated township, the firm said on Monday.

The company has planned to develop a mega township project in the land that has a development potential of 13 million sq ft, Urbanrise said in a statement.

''We are extremely happy in acquiring this huge land parcel owing to rapid growth of the Tambaram locality which is fast emerging as a commercial-cum-residential hub of Chennai...,'' Alliance Group and Urbanrise Chairman and MD Manoj Namburu said.

''We are looking at developing an integrated township with world-class amenities which will ensure that the project becomes a land mark...,'' he said.

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