Damden launches mega project

Foreseeing a tremendous potential for real estate in Mysore, Bangalore-based Damden properties, the flagship company of Damden Group, has planned a project outlay of Rs 200 crore by the end of 2007 in a series of residential apartments, villas and townships in and around Mysore city.

For the present year, it has announced an investment of Rs 50 crore and as part of it launched a Rs 5 crore `Damden Beryl' project in Vonitkoppal, its first residential property project comprising 21 flats with 2/3 bedrooms.

Having already 2,000 customers in India and abroad and five projects on hand in Bangalore, Damden's plans for next year covers a lakh square feet commercial property and 1,000 residential sites in Mysore.

"Mysore is set to become the next hub for IT, ITES and manufacturing industries. With the Bangalore-Mysore expressway coming up, we foresee a tremendous potential for real estate in this city," said managing director Damla Mathew.

"Mysore is currently in a position to plan the infrastructure to supplement the economic growth. Its proximity to Bangalore widens the options for people to live and work between Mysore and Bangalore. Availability of land, suitable climate and changing life style has incited people to invest in real estate in Mysore. With big names like Infosys already setting up shop and Wipro waiting in the rank, the transition has already begun," he said.

"Mysore per se is used to villa concept. There is a systematic growth. We are combining this concept in our residential projects, while laying emphasis on contemporary architecture. No two apartments will share a common wall," Director Dennis T Basil told Business Standard.