Dax Properties setting up Rs 500 cr Golf Retreat

Dax Properties, part of Countryside Realtors Private Limited, is setting up Golf Retreat, a residential project on 300 acre at Shadnagar, about 30 km from the Hyderabad international airport.

The company would invest Rs 500 crore in the project that would be ready in four years, according to Dax Properties managing director Masood Hassan.

Speaking to the media here on Tuesday, he said 25 per cent of the project cost would be debt and the remaining equity to be pooled in by high networth individuals and other partners. The project would have 1,100 villas and villa plots priced between Rs 85 lakh and Rs 2.5 crore. In the first phase, it would have 250 villas and a six-hole golf course.

This apart, it will have a five-star resort for which the company plans to ink an agreement with a hospitality major in about four months.

Dax Properties today signed former Indian cricket captain Kapil Dev as its brand ambassador.