VGN partners with Pragnya PE fund
Chennai-based VGN Developers has announced launching a residential project—VGN Hazel—near Poonamallee. Pragnya Fund, a global private equity fund and investor, has partnered with VGN to develop this project.
Spread across 5.67 acres, VGN Hazel will be an affordable residential development in the fast developing neighbourhoods of Avadi. Starting from 570 sq ft to 1647 sq ft, the project will consist of 1-BHK, 2-BHK and 3-BHK apartments. VGN Hazel will have a total of 781 units across six blocks, each block comprising of a basement, stilt and 14 floors.
Pratish Devadoss, managing director, VGN Developers, said, “We treat every project as our first project. Hazel will cater to the residential requirements for the industrial belts near this project. We are happy to be partnering with Pragnya Fund in developing this project”.
VGN Hazel boasts of a neighborhood that has some of the best schools, colleges and hospitals in the city. The place is easily accessible from Anna Nagar, Ambattur Industrial Estate, Padi, Porur, Sriperumbudur, Irunkattukottai, Kathipara, CMBT and the Avadi & Annanur Railway Stations.
VGN Hazel will be ready for occupancy by 2015.