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Builders join to take on big firms
Posted by Srini Uppala | April 27, 2008 | 408 views
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Loading ...Unnerved by the entry of large publicly listed realty companies in the city, a group of city-based realty firms have joined hands to face the competition collectively. Realty majors such as DLF, Unitech and Purvankara have big plans to tap the realty boom in Hyderabad. Unitech plans to invest Rs 9,000 crore in two real estate projects. While, DLF is developing a Rs 600-crore integrated township spread over 26.3 acre site.
Taking cue from the market leaders, ten city-based realty firms formed Opus Developers and Builders and entered into joint venture with Malaysian realty major Sunway City Berhad to develop 35-acre township at Ameenpur near Bolarum on Outer Ring Road. Opus and Sunway will have equal stake in the joint venture firm, Sunway Opus Grand.
Sunway City Berhad managing director said the township will have 14 towers and will be completed by 2013. The Malaysian company is also negotiating with Opus over two or three projects in the city. Mr Bhawarlal Jain, joint managing director, Opus Developers and Builders, said that the company will offer unique resort-cum-residential apartments. The township will have both single, double, tripe and duplex flats.
SOURCES:
Deccan Chronicle
Topics: Real Estate |
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