My Home to add new townships

City-based real estate major My Home Constructions is planning to set up a residential township here with an investment of Rs 1,000 crore.

The proposed project would have a built up area of 3.2 million sft at Madinaguda. It would have 2,200 apartments and a parking space for 3,500 cars, said J Rameswar Rao, chairman and managing director, My Home Group.

The group on Wednesday announced the completion of its mega township project, My Home Jewel, at Miyapur in the city.

The company also has plans to set up another township project on 1,500 acres with a proposed investment of Rs 10,000-15,000 crore near Shamshabad airport. “We are currently in the planning stage and it will be finalised in the next 12 months,” he said. My Home, at present is working on two residential projects at Miyapur and Madhapur and a five-acre commercial complex.

My Home Jewel has been built with an investment of Rs 650-700 crore on 22.5 acres. The project has an additional corpus fund of Rs 32 crore for capital management.