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.