Alliance Group Commits Rs.9500 Cr. (1.34 Billion USD) Investment at Tamil Nadu Global Investors Meet 2019

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Alliance Group Commits Rs.9500 Cr. (1.34 Billion
USD) Investment at Tamil Nadu Global Investors
Meet 2019Chennai, January 24, 2019

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• Alliance Group, one of the leading real estate
  developers in the country has committed itself,
  to augment the phenomenal growth of residential
  real estate, commercial properties and IT Parks
  in Chennai, Tamil Nadu and signed an memorandum
  of understanding (MoU) to this effect on the just
  concluded Tamil Nadu Global Investors Meet 2019
  (TNGIM).
• The MOU was signed with Tamil Nadu Industrial
  Guidance and Promotion Bureau, for a whopping
  Rs.9,488Cr. (1.34 Billion USD) to develop homes
  for all home buyers, cutting across income groups
  and generate employment directly and indirectly.
• In return, the Govt. of Tamil Nadu will offer
  facilitation to Alliance, in obtaining
  infrastructure support like power supply, water
  etc. and provide expeditious approvals to its
  projects. This investment would also spur job
  growth in the various allied industries related
  to housing development.

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Mr. Suneel Bommireddy, Vice-chairman of the Group
has inked the MOU with the Honorable Chief
Minister Edapadi Palanisamy, making it the
largest such deal in Chennais history. This is
a milestone event in the annals of Alliance Group
and reinforces its commitment to the Chennai
market. This is a proud moment for the Alliance
Group, as the Honorable Chief Minister Edapadi K.
Palanisamy was personally there to sign the MOU
with us. Out of eight companies invited to the
podium, Alliance Group happens to be the only
company from the real estate industry to have
been honored with the Chief Ministers grand
gesture said Mr. Suneel Bommireddy. Alliance
Group over the last 14 years has emerged as a
trusted and top provider of housing solutions in
Chennai, with over 5000 happy customers and

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• Projects covering all of Chennai
  (Korattur/Annanagar, Kelambakkam, Pallavaram,
  Oragadam, Padur, Siruseri, Thirumazhisai,
  Guduvanchery).
• This MOU is seen as evidence of Alliance
  rededicating itself to the Chennai market
  directly, and its unfazed belief in contributing
  to Tamil Nadu governments efforts in regaining
  the top position and glory in the state GDP
  rankings in the country.
• From the days that East India Company was
  operating in Madras, the city has shaped into an
  industrialized city and that has propelled Tamil
  Nadu into the top 3 states of the country in GDP
  growth, consistently. However, over the last
  decade, the GDP growth rate has slowed down, and
  to put the economy back on track and solve the
  ever-increasing urban demand for housing, such
  significant investments in the real Estate
  industry are essential and Alliance group has
  taken the lead to invest heavily in
  Chennai. Investments in Real estate industry will
  directly spur growth in over 160 industries such
  as cement, steel, tiles, doors and paints and
  would have the indirect growth effect on 370
  industries including limestone, plastics, clay
  and pigments. We are committed to Chennai and its
  growth. stated Mr. Manoj Sai Namburu, CMD,
  Alliance.

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The specific aim of Alliance projects that is
already grounded, is to provide living spaces
that fit all sizes, prices without compromising
on location, quality and amenities. First time
home eligible buyers also have the option of
aspiring for home ownership by leveraging direct
benefits under Pradhan Mantri Awas Yojana (PMAY)
and income tax benefits under 80 IBA (Housing for
All) clause. The 50,000 aspirational homes
planned under the Alliance Groups Urbanrise
brand would be a perfect choice for any homebuyer
as they are deemed to be fast moving and easy
to rent- properties complete with all the modern
amenities on par with any luxury home when it
comes to the urban lifestyle. According to
Honorable Chief Minister Edapadi Palanisamy The
second edition of the Global Investor meet which
was held in Chennai on January 23 and 24 was a
huge success, as it witnessed phenomenal
investments to the tune of Rs.3.4 Lakh Cr. (47.9
Billion USD) cutting across many sectors. The
second edition even surpassed first edition of
TNGIM held in 2015. Here is to a great year ahead
for Chennai and its citizens!

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