BRC Infra, a Hyderabad-based real estate developer, has launched a 300-crore residential project — BRC Sri Hemadurga Sivhills — in Manikonda near Hyderabad.
The project, spread across 1.2 million sft, will have seven blocks including 84 floors and 742 apartments upon completion by 2016.
“The company, which was floated a year ago by city-based BR Constructions, started the construction of the project last year and has completed the first phase with an investment of 30 crore,” Bandi Bhaskar, director of BRC Infra, said. The remaining project will be partly funded by financial institutions and by the sale of apartments, he added.
The gated community project will have amenities such as walking track, senior citizens area, sand pit, children play area, water jet plaza, amphitheater among others.
“The first tower will be ready for occupation by June, 2013,” B Ramesh, managing director, said.
Apart from this, the company has two projects — a 700-apartments project at Madinaguda and a 250-apartments project at Miyapur — in the pipeline, These would start by early next year, Bhaskar said. The company also owns land banks in Visakhapatnam, Vijayawada and Guntur.
