SSI ties up with Bala Vidya Mandir to set up schools in township at Perambur

SSI Ltd has announced that Kalpathi Properties, the real estate arm of the Company, has announced that it has tied up with city based Bala Vidya Mandir, Gandhinagar, Adayar one of the leading schools in Chennai, to set up a primary and high school in the 5000 apartment Township that is coming up on the erstwhile Binny Mills property in Perambur, North Madras.

A MOU was signed between Kalpathi Properties and Bala Vidya Mandir.

Kalpathi Properties will provide the land and the necessary infrastructure for the commencement of (School) operations on a nominal long term lease.

Highlights of the Kalpathi Properties - Bala Vidya Mandir Tie up

- total student base to be around 1500

- Preferential admission for township residents

- School to add one new class every year (VI onwards) to take it up to Class 12 education in 7 years time

- Classes to commence academic year 2008-09

- School affiliated to the Central Board of Secondary Education (CBSE)

The idea of the Kalpathi Properties’ Perambur township, with a build out of over 8 million Sq. Ft is to encourage the concept of living together in a community - ´the concept of extended family´. The Sale of Phase 1 comprising of 500 apartments is expected to commence shortly.

Kalpathi Suresh, Chairman and CEO, of the Company, said, "Bala Vidya Mandir, Gandhinagar, Adayar has a proven track record of setting a high standard for academic proficiency as well as overall personality development of its students. The school enjoys a reputation for its balanced approach to education. The presence of a reputed school, such as Bala Vidya Mandir, will ensure that the kids in the township have easy access to high quality education."

The schools philosophy is stress free, child centric, broad based education. As part of this philosophy, Bala Vidya Mandir, Gandhinagar, Adayar does not hold examinations up to class V and instead, the students are graded continuously for all their work done in school. It is compulsory for all primary students to take part in one cultural event every year. An ongoing comprehensive evaluation is undertaken that provides a holistic profile of the learner through assessment of both scholastic and non-scholastic aspects.

Till the primary education, there is no uniform and homework and the emphasis is more on oral inputs and less on formal written work that fosters creativity and free expression.

Features of the Kalpathi Properties Perambur Township:

- 70 Acre coordinated yet independent township across two developments (50 acres and 20 acres) on either side of the nullah

- 5000 residential apartments at an estimated outlay of about Rs 1200 crores

- Hospital, multiplex, temple, 3 star hotel proposed within the township

- Chicago based Architect to handle the Master Planning of the township

The Company is into asset-based businesses, viz., Real Estate, Hospitality and Entertainment Space. The Perambur Township is expected to be a part of the Company on completion of the merger proceedings that is in an advanced stage of progress.

Source : Equity Bulls

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