Isha Homes, a realty firm established in 2004, has completed a large gated community project in Chennai, targeting high net worth individuals HNI and non-resident Indians NRI.

Isha Signature Villas, which has come up in Medavakkam, a happening southern suburb of Chennai close to the city IT hub Sholinganallur, houses 97 independent units with 1,498 4,060 sq ft area.

The Signature Villa project offers a number of amenities catering to recreation, security and convenience needs of the residents. The project houses a club house on a half acre plot right in the middle of the project, providing access to a modern gym and health club, a swimming pool, a food court, an indoor games area, a library and a mini shopping arcade, besides a play area for children and a temple.

The project has a compound wall topped with solar-powered electric fencing and CCTV cameras. We see a very healthy growth pattern in the luxury villa segment. A majority of our customers have some where along the line either experienced or seen gated community living abroad and have similar requirements when they come back to settle down in India, says Suresh Krishn, managing director, Isha Homes.

They are very particular about safety, security, pollution free and eco-friendly houses where the density of population is low. Having successfully addressed these needs, we feel we have started a new trend with this housing project and are confident that this trend is set to grow, he added.

According to him, almost all villas have already been sold. The price, which started at Rs 2,650 per sq ft when the project was launched, soon escalated to Rs 5,000 per sq ft. Around 50 per cent of the buyers are NRI.

Isha Homes, which has a land bank of around 25 acres, now wants to focus on larger gated community projects, premium apartments and also budget homes. Premium apartments, premium villas and budget homes will be our focus in order to cater to the requirements of people across different strata of society, Krishn added.

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