Marvel Realtors, a company that hitherto operated primarily in the luxury residential space has made a foray into the high-end commercial space with ‘Edge', a luxurious non-IT commercial building located on 14 acres of land at Viman nagar.

The new project has been launched in collaboration with hedge fund Och-Ziff, which has invested Rs 140 crore for a 75 per cent stake, and real estate fund HDFC PMS, which has acquired 100,000 square feet in it.

The total sales revenue of Edge, which is based on the sale rather than lease model, is pegged at Rs 1200 crore.

Billed as Marvel's flagship project, and designed by Singapore-based Hans Brouwer, the 200-meter-long, nine-storey building has a distinctive curvilinear façade.

It has a total area of 1.1 million square feet, including 0.9 million square feet of office space, of which a third has already been sold.

Nearly 40 per cent of construction is complete, and full delivery is scheduled for 18 months on.

Vishwajeet Jhavar, CEO, Marvel Realtors, says that the project has a Platinum LEED rating, and the highlights include a double layer of perforated envelopers to reduce heat exposure, improve thermal insulation and minimise power consumption.

The building is divided into eight cores, has as many gardens inside, board rooms and conference rooms that can be hired as per requirement, houses a 40-key boutique hotel, a roof-top fine dining restaurant, and amenities like swimming pool, spa and gym, in addition to childcare and medical facilities.

For the first three years, Marvel has undertaken a management contract for Edge, and the maintenance charge will be around Rs 8 per square foot, Jhavar says.

Kolte-Patil to develop township

Kolte-Patil Developers Limited is building ‘Life Republic' a township near IT hub Hinjewadi.

Being developed under the special township policy of the Maharashtra government, the first phase of this project involves the construction of 1, 2, 3 and 4 BHK apartments and 3, 4 or 5-bedroom villas, in addition to a school, healthcare facility, convenience retail and facilities for art, culture and sports, totalling around 2.5 million square feet of area.

The apartments at ‘Life Republic' are between 600–3000 square feet in size, while the villas are from 2500-5000 square feet. The residential units, which come at a price tag ranging from Rs 25 lakh to Rs 5 crore, will be ready for possession beginning 2014.

The highlights of the new township include ‘Spine Boulevard', the main internal road which accommodates a pedestrians' corridor, cycling path and a plantation belt along with other vehicular traffic.

The township will have a high per capita density of green open area and a road network built to international specifications to enable quick connectivity with Hinjewadi, the Expressway, and the Pimpri-Chinchwad belt.

Godrej Green City in Ahmedabad

Godrej Properties Ltd has launched two new residential towers at its Godrej Green City township project in Ahmedabad.

These 12-storey towers will offer luxurious 3-BHK apartments, measuring approximately 2,250 square feet, with a 270-degree view.

The project is located just off SG Highway in the heart of the city. Godrej Properties plans to create facilities for transport, education, healthcare, recreation, hospitality, retail and banking within the development.

Important civic facilities and public utilities will be added to make Godrej Garden City fully self-sufficient.

The master plan has been created by renowned architects Skidmore, Owings and Merrill (SOM), who have also designed numerous landmark projects across the globe such as Burj Khalifa, which is currently the tallest building on planet earth.

Godrej Garden City is one of two projects in India and among sixteen globally to be chosen as a partner by The Clinton Climate Initiative, with the goal of achieving a climate-friendly development.

The initiative seeks to reduce the net greenhouse gas emissions from the project to zero by incorporating a sustainable development philosophy into all aspects of the development.

The release quoting Mr Pirojsha Godrej, Executive Director, Godrej Properties, says, “We are excited to announce the launch of these new towers in Godrej Garden City. We have seen robust sales in the project, with each of the first two towers in the ‘Belvedere' cluster sold within a day of being launched. We will endeavour to provide highest standards of design and living in Godrej Garden City.”

Godrej Properties Limited has completed several landmark projects and is currently developing projects in 12 cities across the country.

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