Brick Eagle, the project developer of Sheltrex—a technology integrated housing venture promoted by Sheltrex Developers Pvt. Ltd, has signed an agreement with Jarvinia, a Cyprus based investment firm to jointly develop the affordable housing project at Oragadam in Chennai in Tamil Nadu.
The project location has recently been shifted to Oragadam from the previously launched location at Maraimalai Nagar in March 2013. Rajesh Krishnan, Managing Director, Sheltrex Developers Ltd, said “There are acute shortages of affordable housing in Chennai. We are happy to partner with Jarvinia and relaunch the project at the new site in Oragadam”
The total portfolio size of the land which Brick Eagle would handle in Oragadam is worth Rs.2,000 crore. Phase-I comprising 25 acres would be launched under the brand of Sheltrex. The project is expected to be completed by 2015.
According to Rashmi Parekh, Director, Sheltrex Developers Ltd, Jarvinia would control over 170 acres of development rights on lands at Oragadam and has appointed Brick Eagle to manage the promotion of integrated affordable housing township portfolio.
The Sheltrex-Oragadam project is situated on the main four-lane highway SH 57, next to the Oragadam Industrial Growth Centre. Oragadam, widely known as the “Detroit of India”, is well connected with roadways (the Grand Southern Trunk Road), rail lines and to the proposed international airport at Sriperumbudur.
Sheltrex has partnered with IBM to leverage its “Smart City Framework”, integrating cutting-edge technological features within the township. IBM has helped design the digital roadmap for the township with amenities like radio-frequency identification, WiFi-enable living spaces, online education networks and smart municipal infrastructure.
Architect Hafeez Contractor has completed the master plan, showcasing smart houses that optimise space utilisation. The township also includes a school, clubhouse, shopping mall, and a technology museum – part of its ground-breaking partnership with IBM.
Brick Eagle has more than 500 acres of land under development.