Organo plans realty projects in Hyderabad and Bengaluru
Eco-habitat developer Organo has planned to build twin township projects across Hyderabad and Bengaluru and has set aside funds worth ₹900 crore for acquiring 1,800 acres of land in these cities. The Hyderabad-based company is betting big on demand growth in self-sustainable cities and people keen to live away from cities after the Covid-19 pandemic. Founder, Nagesh Battula, informed that the company is looking to develop townships as product types with an order book of ₹3,000 crore and turnover of ₹900 crore, targeting 3% of the total TAM for alternate real estate in India. In Rurban, a mix of rural and urban communities, there is very little speculation on land price and the majority of the cost goes into constructing building infrastructure and installing technologies for sustaining the community. The land price amounts to only 11% of the overall cost. Building Rurban communities is unlike typical real estate investments where the project value is majorly derived from the speculative nature of land price and developments that take place around the project.
📅Published on:
29 December 2020
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