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Rediff.com  » Business » Bangalore firm launches Rs 500-cr real estate project

Bangalore firm launches Rs 500-cr real estate project

December 07, 2012 13:43 IST
The project envisages construction of 424 two and three bedroom apartments across five towers. Amenities include 20,000 sft clubhouse that features a terrace swimming pool, gym and an indoor badminton court

Bangalore-based real estate and infrastructure developer Salarpuria Sattva has launched its mixed-use development project 'Necklace Pride' located on Necklace Road in the heart of the city.

Spread over 8.5 acres, the Rs 500-crore (Rs 5 billion) project will have residential, commercial and retail spaces comprising 1.6 million sft built-up area. The project is expected to be ready by 2015.

According to managing director Bijay Agarwal, the project envisages construction of 424 two and three bedroom apartments across five towers, each consisting of 14 floors. Amenities to be provided include 20,000 sft clubhouse that features a terrace swimming pool, gym and an indoor badminton court.

He said the company had an upcoming 700,000 sft commercial project 'Cyber Garden' in the city that was nearing completion.

It was also planning to construct a 7.5 million sft hi-tech city that was estimated to cost Rs 1,000 crore (Rs 10 billion).

"Though construction activities had slowed down in Hyderabad in the recent past, we see immense potential in the city due to its excellent infrastructure support," Agarwal stated in a release here on Thursday.

BS Reporter in Chennai/Hyderabad
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