Rediff Logo
Money
Line
Channels:   Astrology | Contests | E-cards | Money | Movies | Romance | Search | Women
Partner Channels:    Auctions | Health | Home & Decor | Tech Education | Jobs | Matrimonial
Line
Home > Money > Business Headlines > Report
April 11, 2002 | 1420 IST
Feedback  
  Money Matters

 -  Business Headlines
 -  Corporate Headlines
 -  Business Special
 -  Columns
 -  IPO Center
 -  Message Boards
 -  Mutual Funds
 -  Personal Finance
 -  Stocks
 -  Tutorials
 -  Search rediff

    
      









 Secrets every
 mother should
 know



 Your Lipstick
 talks!



 Make money
 while you sleep.



 Bathroom singing
 goes techno!



 
 Search the Internet
         Tips
 Sites: Finance, Investment
E-Mail this report to a friend
Print this page Best Printed on  HP Laserjets

Singapore-type town near Hyderabad soon

Syed Amin Jafri in Hyderabad

Work on the construction of a Rs 1.5 billion 'Singapore-style' self-contained model township at Pocharam on the outskirts of Hyderabad, will begin in June this year.

The housing complex, the first of its kind in the state having a cluster of one-plus 12-storey and one-plus four-storey apartments, will be ready for occupation within 18 months from the commencement of work at the township, located about 18 kms from the capital.

The ambitious project is being taken up as a joint venture of the state-owned Andhra Pradesh Housing Board and CESMA International Pte Ltd, a subsidiary of Singapore government's Housing Development Board. Technical assistance will be provided by the engineers from CESMA International.

Out of a total of 723 acres acquired by the APHB for construction of flats at Pocharam, it has been decided to construct 1,600 flats in the first phase on an area of 50 acres, according to APHB vice-chairman K V Ramanachary.

There will be 960 three-bedroom flats (each with 1,400 square feet) and 640 two-bedroom flats (each with 1,100 square feet). The flats will be built following Vaastu. "

The cost of a three-bedroom flat has been fixed at Rs 900,000 and that of a two-bed room flat at Rs 700,000.

Ten per cent of the project cost has to be paid by the allottee at the time of allotment. The rest of the payment can be made in six installments at six-month intervals.

APHB already issued notification for 1,000 flats and received 1,200 applications. So far, 680 allottees got allotment letters by paying the 10 per cent project cost.

The model township has been planned as a space-saving and self-contained housing colony. The CESMA International officials, led by its president Low Seng Poh, submitted the final plans and architectural designs of the project to State Housing Minister P Ramasubba Reddy in Hyderabad on Wednesday.

They also made a detailed video presentation of the project with prototype models.

The township will have all the required infrastructure, including schools, shopping complexes, places of worship, flower gardens, playgrounds, swimming pools, club houses as well as 200-feet wide roads.

It is the first time that the Singapore company is undertaking a housing project in India.

The CESMA International had entered into an agreement with the AP Housing Board in November 2001 to implement the project. CESMA charged Rs 18.39 million for master planning and architectural services for the project.

Similar townships are being planned at other places around Hyderabad, such as Gachchibowli, Kukatpalli and Lakshmipuram.

ALSO READ:
The Rediff Budget Special
Money

Business News

ADVERTISEMENT