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SatyaVani Homes has announced plans to set up a satellite township project at Pocharam in the IT hub of Hyderabad with an outlay of Rs 250 crore.
The Hyderabad-based real estate company plans to develop 1,800 apartments, including 400 service apartments, on a 15-acre site in a phased manner over the next five years with the phase one of about 800 apartments likely to be completed by December 2015.
Addressing a press conference here, P.Suryaprakash, Managing Director of SatyaVani Group, said, “East Hyderabad has emerged as among the most developing regions of Hyderabad where the Ushodayam Project is coming up. We have tied up necessary finances for the phase one with Bank of Maharashtra.”
He said that the apartments with sizes ranging from 1,000 sq.ft for two bedrooms and going up to 1,460 sq.ft for three bedrooms will be priced at Rs 2,700 per sq.ft. This works out to about Rs 26 lakh for two bedroom apartment with a discounted inaugural price now. The company has also tied up with Godrej to offer modular furniture in these apartments.
This venture is located close to Infosys, Genpact, Raheja Mindspace projects, where several other IT projects are coming up.
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