Atmosphere to launch luxury home projects in Chennai

Chennai: Atmosphere Lifestyle Homes Pvt Ltd, floated by one of the promoters of the Chennai-based Vijay Shanthi Builders Ltd Mr Naresh Jain, hopes to cater to the super luxury segment of apartment buyers.

Announcing two Chennai projects, Mr Jain said Atmosphere Lifestyle hopes to cater to a segment of the market where he believes there is a large gap. Though a detailed market survey is yet to be done, last year, he said, over 80 apartments costing more than Rs 3 crore each were bought on the day the projects were announced.

The demand is at least seven times more than the supply.

Atmosphere Lifestyle’s first project, Mist, coming up on the upmarket Harrington Road, with eight apartments has sold four of them costing over Rs 4 crore each. Its second project, Rainforest, is coming up at Nungambakkam, near Sterling Road, with six apartments of about 4,200 sq ft costing Rs 6.5 crore each.

According to Mr Jain, The company will bring in new concepts. The apartments will be backed by an ‘unlimited and unconditional lifetime guarantee’. This includes guarantee on title deeds, complete structural guarantee against leaks and cracks and a lifetime warranty for standard fixtures.

Another feature will be a limited edition home, which will be designed by a celebrity designer, in each of its projects.