Janapriya launches Rs 200cr project

Hyderabad-based residential real estate major, Janapriya Engineers Syndicate Limited, on Sunday announced the launch of a Rs 200-crore apartment project, Janapriya Arcadia, near Bollaram on the outskirts of the city.

The 12-acre gated-community project, comprising 950 two-bedroom and three-bedroom apartment-homes, houses facilities including an amphi theatre, a club house, fully-equipped fitness centre, swimming pool and a children play area.

"The project, which is expected to be completed in 30 months from now, caters to five profiles of customers "� software engineers, Defence personnel, biotech professionals, NRIs and the Indian upper middle-income group. The cost of each apartment, with a built-up area of between 950 sft and 1,500 sft, would range from Rs 14 lakh to Rs 23 lakh," K Ravinder Reddy, chairman and managing director, told mediapersons.

Janapriya's other ongoing projects include the 1,200-unit Utopia, which is at the flag end of completion.

"We are also set to announce a 1,900-unit project 'Metropolis' near Sanath Nagar in Hyderabad next month, financial modalities for which are currently being worked out," he added.

The over two-decade-old company has to its credit the completion of 22,000 apartments and homes in Hyderabad and Bangalore. "Our vision is to build a family of 1 lakh home-owners by 2015," Reddy said.

Janapriya posted a turnover of Rs 120 crore during the last financial year and its outlook for the current fiscal is Rs 800 crore.