Satellite Township in Hyderabad worth 1000-Cr on the Anvil
A formal announcement was made by the Hyderabad based 
flagship real estate company SMR Builders for a satellite township project that it proposes to undertake, close to the IT hub in Hyderabad. The project which has been named SMR Vinay Harmony County is a mammoth venture by the company with an estimated cost of Rs 1,000 crore, to be developed on a 45-acre land parcel. The project would be undertaken in a phased manner, with Rs.150 crore to be invested in the first phase, Rs.450 crore in the second phase and Rs.400 crore in the third phase.
Phase-I of the project:
The intitial phase of the project would come up on a five-acre site, with two high-rise towers, comprising of 450 units of one, two and three bedroom apartments as reported by the Chairman and Managing Director of SMR Holdings. The project has been planned as a perfect gated community, which would be located at Bandlaguda in Rajendra Nagar, in the close vicinity of Appa Junction. The design of the project is in such a manner so as to offer a symphony of all that you would dream for in a home like luxury, space, comfort, good location and affordability. The apartments would be designed to be Vastu-compliant, with elegant living rooms and well-spaced bedrooms, besides having kitchens and bathrooms with the latest state-of-the-art facilities.
Features of the project:
The apartments would range in size from 500 sq ft 1 BHK units, between 1200 sq ft and 1400 sq ft for 2 BHK and between 1700 sq ft and 2200 sq ft 3 BHK units. The prices range from Rs.3,000-Rs.3,200 per sq ft. The project guarantees facilities which are of world class quality, with 70% open spaces providing residents with an array of amenities like landscaped gardens, swimming pool, jogging tracks, tennis courts etc. Some of the other important amenities provided are a club house, an ultra modern gymnasium, indoor badminton courts, elevators, ample parking space etc. Besides being well connected to the IT hub, it is renowned for its proximity to other important landmarks like the airport, international schools, educational institutions and hospitals.
Competitors:
Some of the other prominent projects and builders in Bandlaguda are Green Earth Fort View by Greeen Earth Developers, Jains Salzburg by Jain Housing, Prestige Royal Woods by Prestige Group, Fort View Edifice by Edifice Projects, Maple Town by Radha Realty etc. The prices per sq ft for these projects vary between Rs. 2,800 to Rs. 3,200.
Expansion plans:
SMR Builders, which has already developed projects in Hyderabad and Bangalore since the past 15 years has plans to expand to other Tier-II cities in Karnataka, Andhra Pradesh and Tamil Nadu, where the demand is considerably high. The target market that the company is focusing is on the mid-segment where the demand is relatively higher, and they have appropriately priced their projects at around Rs.3,000 per sq ft so as to make them affordable to their target customers. The first phase of the project is being funded by ICICI bank, and the remaining phases could be funded by a consortium of banks.
The completion of this project will provide affordable residential facilities for residents working in the IT hub of the city, besides resulting in the overall development of the area, with modern infrastructure facilities and amenities.
