Akshaya, Disney in tie up for theme based housing
Aug 29, 2013
Source : The Hindu


CHENNAI: Chennai-based real estate developer Akshaya plans to introduce theme-based housing project in tie-up with Disney.

“Our plan is to create Disney-inspired residential project in Chennai,” said T. Chitty Babu, Chairman and CEO, Akshaya Pvt Ltd.

According to him, the first phase of the project will come up in 47 acres on the city’s IT corridor OMR. It will have approximately 2,300 (2 and 3 BHK) homes. It will also house Akshaya healthcare centre, senior citizen homes, crèches, clubhouse, Akshaya educational institution, Akshaya commercial and retail space.

“Our intention is to create a housing project where people need not have to step out of the gate for anything,” said Babu.

Elaborating on the ‘Disney-inspired’ theme further, Roshini Bakshi, Managing Director of Disney India, said the homes will have Disney branded accessories including fixtures, kitchenware, furniture, beddings, rugs, tableware, fans, wall coverings, ceiling paints, bath accessories and more.

According to Babu, even in the common area, there can be an exciting range of Disney-themed designs and architecture including lobby, swimming pool, play area, gym, nursery school and landscaping to create a fun-filled living space.

On the Akshaya-Disney association, he said the licensing pact will be valid for four years, “and the will be renewed further.” This association will be the first of its kind partnership in Tamil Nadu and it will reinforce company's position in the innovative residential market, he added. As this is an exclusive pact, Disney will not sign similar pact with any other real estate developer in the State. Through this association, Disney continues to focus on expanding our in-home category and also look at bringing holistic experiences in day-to-day life of our fans, added Disney’s Bakshi.

For Disney, this will be fourth tie-up in the country and the company looking for more such opportunities with various developers across the country. Disney has similar tie-ups with developers in Mumbai and Delhi. Disney is the largest retail character licensor in the world with $37 billion in character merchandising retail sales globally in 2012. According to Babu, the project is at its very early stage. The intention behind announcing this now is to get feedback from consumers.

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