A significant section of buyers of an up-market residential project near Chennai being promoted by DLF have locked horns with the builder, saying cut prices or face exit notices.

But DLF says it 'sees no problem' in completing the Rs 1,500 crore luxury township with a school, swimming pool, a club and nearly 3,500 apartments being built in three phases.

The project is coming up off Old Mahabalipuram Road, 30 km from the city.

Nearly 400 buyers who had booked apartments in this project met at a city hotel on Sunday afternoon. They discussed the sluggish real-estate market following the global meltdown, and demanded that the company cut prices by 25% and give “written assurances” on other issues.

Hindustan Times