Hyderabad based real estate company Vasathi Housing Ltd, focusing on affordable luxury has finalised plans to expand its presence by taking up new ventures in Hyderabad, Bangalore & Chennai which entail an investment outlay of nearly Rs. 400 crore over the next one year
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Mr. P.V. Ravindra Kumar, Chairman and CEO of Vasathi Housing, said ''The company has a land bank of nearly 55 acres in Hyderabad & Bangalore and is close to finalising a deal at OMR in Chennai. While the Bangalore project will begin by March, 2012, the Chennai project is likely to be taken up by the year end,
Mr Satish Vankayalapati, Co-Chairman of Regional Holdings of the US, said,''The company which had investments of $ 1 core is set to raise funds to part fund the expansion phase. We believe that there is a market for projects which provide the right comforts at affordable prices. The company would raise about $10 crore during the year and the new investments would be spread over the next 18 to 24 months as new projects come up in Hyderabad, Bangalore & Chennai. The company is currently executing a 400 flats venture near Outer Ring Road here with a built up space of nearly 5.40 lakh square feet"
The Vasathi Anandi project, which entails 400 flats, would be fully completed by December 2012. This project has helped position us in a segment that the company describes as affordable luxury with average price at Rs. 2,500 per square feet
The Vasathi Housing recently secured ISO quality certification which has been awarded to select number of realtors in housing segment.
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Mr. P.V. Ravindra Kumar, |
Mr. P.V. Ravindra Kumar, Chairman and CEO of Vasathi Housing, said ''The company has a land bank of nearly 55 acres in Hyderabad & Bangalore and is close to finalising a deal at OMR in Chennai. While the Bangalore project will begin by March, 2012, the Chennai project is likely to be taken up by the year end,
Mr Satish Vankayalapati, Co-Chairman of Regional Holdings of the US, said,''The company which had investments of $ 1 core is set to raise funds to part fund the expansion phase. We believe that there is a market for projects which provide the right comforts at affordable prices. The company would raise about $10 crore during the year and the new investments would be spread over the next 18 to 24 months as new projects come up in Hyderabad, Bangalore & Chennai. The company is currently executing a 400 flats venture near Outer Ring Road here with a built up space of nearly 5.40 lakh square feet"
The Vasathi Anandi project, which entails 400 flats, would be fully completed by December 2012. This project has helped position us in a segment that the company describes as affordable luxury with average price at Rs. 2,500 per square feet
The Vasathi Housing recently secured ISO quality certification which has been awarded to select number of realtors in housing segment.
