Hyderabad: Kalpataru Ltd will develop a premium residential project in Hyderabad, eight years after it bought land in the city.
The company had in 2008 bought 9.5 acres of land at Sanath Nagar, near the old Bombay highway, for Rs.80 crore. It had acquired this land from British Oxygen. It could, not, however go ahead with the projects because of the political turmoil that prevailed then.
The residential project , Kalpataru Residency, with 576 apartments will be priced at Rs.4,176 per square foot, it said on Thursday. Of the 9.5 acres it has, Kalpataru would use 5.5 acres for the project, to be ready in three years.
“We always wanted to enter Hyderabad because of the good infrastructure here. There has been a lull in the market but now the realty segment seems to be in the growth phase again,” said Narendra Lodha, director of sales and marketing at Kalpataru.
Resource: http://www.livemint.com
The company had in 2008 bought 9.5 acres of land at Sanath Nagar, near the old Bombay highway, for Rs.80 crore. It had acquired this land from British Oxygen. It could, not, however go ahead with the projects because of the political turmoil that prevailed then.
The residential project , Kalpataru Residency, with 576 apartments will be priced at Rs.4,176 per square foot, it said on Thursday. Of the 9.5 acres it has, Kalpataru would use 5.5 acres for the project, to be ready in three years.
“We always wanted to enter Hyderabad because of the good infrastructure here. There has been a lull in the market but now the realty segment seems to be in the growth phase again,” said Narendra Lodha, director of sales and marketing at Kalpataru.
Resource: http://www.livemint.com
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