SSi Ltd, an urban infrastructure development company, has tied up with Unitech Ltd and Arihant Foundation & Housing Ltd to develop an integrated township at its 70 acre property in Chennai. SSi, a PVP Ventures company bought this property from Binny Real Estate and Asset Development Limited (BREAD) for a consideration of Rs 100 crore. As per the sources, the partners are expected to invest anywhere between Rs 1, 200 crore and Rs 1, 500 crore in this integrated township project. The township will be developed under the revenue-sharing basis in the ratio of 43:57 between SSi and the two partners. From the 57% share, both Unitech and Arihant will hold an equal stake. The construction work of the project will start soon and will have facilities like a major school, hospital and a multiplex.
