Apartments for sale in Hyderabad

Online, August 10, 2010 (Newswire.com) - Cybercity builders and Developers Pvt Ltd, in associated with Ashoka Developers and Builders Ltd, is developing an integrated township "Rainbow Vistas" at Kukatpally in Hyderabad with an estimated cost of 550 crore to 650 crore. The project being planned is coming up in about 15 acers of land. The project work is sheduled to begin by April 2009 and will be developed in a phased manner. The overall
township is expected to be ready in 5 years.
Uttam korupolu, Chief executive officer of Cibercity said, the promoters of the company alredy invested 20 crore in the project. We are talking to a slew of Banks and financial instructions including Union Bank of India, LIC for credit line, We are also being approached by private equity players, who are intrested in investing in the project. But we have not decided on that yet. If the company is able to manage the funds for the project by itsself with just the support of Banks and finantial institutions, we might not sign up for PE investment", he said.

Highlighting the details of the project, he said that the township would offer affordable housing to cusstomers. "The 2.5 millons square feet project will have 1,500 apartments with both two and three bedroom options. The size of the apartments will vary from 1,100 to 1,500 sq.ft. And the price will be anywhere between Rs.28 lakh and 40 lakh depending upon demand and market conditions. The project will be built in multiple blocks of 14 floors each. The other features of the township will include club house food court, childrenplay area walking track and gym.