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Our Bureau

Chennai , April 25

THE Chennai-based Akshaya Homes Pvt Ltd, which has just commenced its 125th residential project, plans to enter into the commercial space segment. The company has plans to set up five IT parks with an investment of about Rs 150 crore.

Mr T. Chitty Babu, Managing Director, Akshaya Homes, said that the company has acquired five properties ranging from 60,000 sq ft to 2 lakh sq ft along the Old Mahabalipuram Road. The IT parks will be developed on these properties with funding from financial institutions, he said.

The company's new project is coming up at Mogappair, a fast growing suburb of Chennai. This Rs 33 crore project is set in 2.52 acres and has 118 apartments across five blocks.

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