BS Reporter |
Chennai/ Hyderabad
July 20, 2007
Last Updated at 00:00 IST
IVR Prime to focus on mass housing
| Hyderabad-based IVR Prime, the real estate subsidiary of IVRCL, will be focusing on mass housing, targeting income earners between Rs 25,000 and Rs 40,000 per month.
|
| |
| "Our large integrated townships currently underway would be built at affordable prices of Rs 18 lakh to Rs 20 lakh per house and will have 800 square feet of built- up area in a 200-sq yard plot," E Sunil Reddy, managing director, IVR Prime, said here today.
|
| |
| The company is currently developing a couple of integrated housing projects at Chennai and Sriperambadur in Tamil Nadu and similar projects in Hyderabad and other locations.
|
| |
| Over 63 per cent of the proposed development of these housing projects is coming up in Tamil Nadu alone, according to Reddy.
|
| |
| In Hyderabad, the company is developing a shopping mall-cum-entertainment project at a cost of Rs 334 crore at Gachibowli.
|
| |
| The company owns a land bank of about 2,500 acre of which about 1,000 acre is being developed near Chennai. |
| |
|
| |
