What if somebody promises to deliver a compact Mercedes Benz at a price of Maruti Swift? That is what serial entrepreneur C Sivasankaran promises in his latest foray into the housing segment, where he plans to offer luxury smart-homes at affordable prices across the country, under the brand UTOO Homes.

Known for his disruptive and innovative attempts in his various businesses, from computers to telecom, Sivasankaran is now attempting the same in residential apartments.

UTOO Homes will offer a fully-furnished 321 sq ft ‘smart’ luxury flat, which will actually be one big room incorporating kitchen, living and bed rooms at a price of ₹41 lakh.

For those wanting more space, another room could be bought at the same price.

Since it will be sold as a fully-built unit, the GST will not be levied.

The only other cost will be ₹4,950 per month, as maintenance charges.

The apartment will have various facilities, such as a fitness lab, a 24-hour laundry, a spa, a resident dentist, a centralised kitchen, and a multi-purpose hall.

Compact spaces

“We will handhold every UTOO Home for five years and after which we will hand it over to the owners’ association,” said Sivasankaran here. Explaining the rationale for ‘321 sq ft room’ concept, Sivasankaran said various studies indicated that residents did not use more than 90 sq metres of living space in a home. Though people pay for large areas, they rarely use the same.

“Our objective is to help people save time and money, so that they have more time for relatives, friends and other important things,” said Sivasankaran.

Built on the concepts of functionality, advanced technologies and contemporary aesthetics, the homes will have a kitchen, table, sofa/bed, wardrobe and bathroom. The design standards of UTOO Homes have been approved in more than 150 countries.

The first project of UTOO Homes will come up at Porur in Chennai by September 2019.

Related Topics