LIC Housing invests in SPR City

CHENNAI: SPR City, Chennai’s mega township, has raised capital from LIC Housing towards its ongoing residential project of 1.7 mn sqft. This will result in preponing the construction at the residential project resulting in handing over of the apartments by the end of this fiscal, said Chetan Bohra (Director). “Part of the capital raised has been used to repay and provide an exit to Piramal Enterprises. The cost of capital is expected to be reduced by almost 35-40% in the current financial year, thus giving impetus to Construction speed,” he added.