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| Sri Krishna plans Rs 430-cr realty projects in Hyderabad |
| BS Reporter / Chennai/ Hyderabad Jun 07, 2010, 00:10 IST |
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Kri Krishna Developpers, part of the Hyderabad-based diversified Sri Krishna group with interests in jewellery retail, real estate, development, infrastructure, architecture and communications, is coming up with two projects – Krishe Sapphire and Krishe Valley – on the outskirts of Hyderabad with an investment of Rs 350 crore and Rs 80 crore respectively.
“Work on Krishe Sappire, a workplace venture on two acre with a built-up area of 600,000 sft, is already under way and we expect the project to be delivered by December 2010. We are also coming up with Krishe Valley, a gated community residential project. The project comprises 69 premium apartments and will be ready for occupation by December 2011,” Saji Koshy Paul, vice-president (marketing) of Sri Krishna Developpers, said in a press release on Saturday.
Both the projects will be funded through a mix of debt, equity, internal resources and pre-sale proceeds, he added. Paul said the company, which has so far created over 1 million sft of living space, had presence in other parts of the country, though not to the scale of Hyderabad. “Land has been purchased at strategic locations and the group is considering foraying into other states.”
Paul said the economic downturn had not show any impact on the real estate market in Hyderabad. “We are all aware that many companies had slowed down or stopped their construction activities during the period of crisis and prices had come down drastically, However, from our own assessment, we feel the pricing did come down by 30 per cent and has now climbed back considerably,” he added.
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