IRA Realty Tech in JV plans ₹2,000-cr township in Hyderabad
Hyderabad-based realtor, IRA Realty Tech in a joint venture with a group of HNIs (high net worth individuals) has planned to build a 53-acre township project in Shamshabad, Hyderabad. Chairman and MD of IRA Realty, Narsi Reddy, informed that the ₹2,000- crore project is expected to spread over 150 acres area. The township will comprise affordable apartments (in the ₹45 lakh to ₹50 lakh range), high-end villas (₹2.5 crore and above), an international school, hospital and commercial ventures and the company has applied for permissions and the project is expected to be rolled out shortly. As per the plan, the school is set to start operations by the next academic year while the villas are likely to be ready in three years. The company is hopeful that the basic infrastructure will be up and running in 18 months. Shamshabad is going to be a big realty destination of Hyderabad, after the IT corridor. It has great infrastructure and is not as expensive as the Financial District. The company sees great potential in the area and believes that it can create valuations to the tune of ₹1,000 crore.
📅Published on:
30 April 2021
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