Hyderabad: Hyderabad-based real estate developer SuchirIndia will invest Rs 175 crore to develop a modern residential complex spread across 2.45 acres near Satamrai, Shamshabad.
Titled ‘The Tales of Greek’, the project with a total construction area of six lakh square feet, will have 398 residential flats (all 2 BHK) ranging from 900-940 sq ft, starting at Rs 45 lakhs going up to Rs 50 lakhs per unit. The project activity will be completed by August 2023.
Dr Kiron, chairman, SuchirIndia, told Telangana Today, “All approvals are in place. Five banks have approved the project. Excavation works are done. Knight Frank is the project management consultant (PMC) and we have also roped in all contractors. Land is owned by SuchirIndia and we want this project to be self-funded. We are not looking at debt at this time. We have already sold 20 per cent of the flats. We are aiming to sell at least 80 per cent of the flats by November-December 2021 timeframe.”
IGBC Platinum rating is also aimed placing the project in the sustainable development category in affordable housing, which is rare in Hyderabad.
While the buildings’ architecture at ‘The Tales of Greek’ will be inspired from the Greek times, the amenities and home automation in the project make it more modern.
Kiron added, “We are currently taking up a villa plot project spread over 11 acres under Gizapolis project near Kothur on the Bangalore highway. The RERA project is almost 80 per cent done and will be completed by October. Another plot project is also taken up at Aryavartha Nagari near Alwal, offering plots of 200 and 250 square yards.”
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