Lancor to target entire gamut of residential segment

Chennai-based developer Lancor Holdings Ltd will target the entire gamut of market segments from affordable housing projects to high-end luxury space, according to Mallika Ravi, Group Chief Executive Officer.

At a press conference here, RV Shekar, the BSE listed company’s Chairman, announced he will be taking a step back from day to day activities which will be handled by Ravi.

She said the company has entered into budget housing with Townshire, a residential project in Sriperumbudur. The single and double bedroom apartments in the project measuring 520-590 sq ft will be priced between Rs. 13.50 lakh to Rs. 15.50 lakh. The project will target employees in the manufacturing sector. The location, which is to the south of Chennai, is a hub of industrial activity.

Lancor Holdings has completed Kiruba Cirrus, a 65-apartment project on two towers, in Valsarawakkam, with apartments priced at about Rs. 2-3 crore. The apartments of 1,724-2,670 sq ft are nearly completed and buyers can “walk in and live”, she said.

The company has eight projects in development and has adequate land bank for about 5 million sq ft of built up space, she said.