HYDERABAD: In a major boost to real estate particularly for northern parts of the city, realty major Ramky Estates has decided to invest Rs 8,000 crore for its 12 upcoming residential projects in Hyderabad.
This investment will create as many as 8,000 housing units in around 10 million sq. ft in areas like Uppal, Cherlapally, Pocharma, and Thukkuguda apart from a few pockets of west Hyderabad. The work for these residential apartments would be completed in three-and-a-half years.
Speaking to TNIE, M Nanda Kishore, MD of Ramky Estates, said that at present, they have a land bank of 500 acres in Hyderabad for its upcoming projects. “We are also planning to build apartments in Isnapur, villas in key areas, and create plotting in Shadnagar. There are also plans to venture into tier II cities of Telangana.”
Explaining their construction activity of Genpact’s 2 million sq. ft of IT/ITES office space in Uppal, he said that ground works were completed and would commence work on slabs. This project is set to be completed in three years.
“Consumer preferences are evolving rapidly. The preference is for a design with defined spaces blending comfort, convenience and elegance. Homebuyers today are looking beyond the four walls. They choose vibrant communities that provide opportunities to connect, create and celebrate,” Nanda Kishore added.
Till date, Ramky Estates has built over 10 million sq. ft. of residential and commercial spaces, with a total estimated value of Rs 3,500 crore. The company offers an array of projects as diverse as the buyer’s market in India, with units priced anywhere between Rs 45 lakh and Rs 5 crore.
It has recently launched three new projects, Ramky One Astra in west Hyderabad, and Ramky One Genext & Ramky One Orion in east Hyderabad. Other well-known projects of Ramky Estates include Ramky One Odyssey at Kokapet, Ramky One Orbit at Nallagandla, Ramky One Symphony at Patancheru, Ramky TruSpace Aspire at Balanagar, Ramky One Harmony at Kukatpally.