Alliance Group enters Hyderabad realty market

Thursday, 29 November 2007, 04:53 Hrs
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Hyderabad: Alliance Group, a Bangalore-based real estate developer, Wednesday announced its entry into the Hyderabad market with a 4.86 billion villa project.

The project is called Inner Circle. To come up on 60 acres at Shamirpet on city outskirts, it will have 350 luxury villas designed by Asia's well-known architectural firm, Surbana of Singapore.

The villas will come on plots ranging between 2,400 sq ft and 6,000 sq ft. they will be priced between 8 million and 20 million.

The 44-billion group has roped in Westport Capital, a venture capital firm from the U.S., for this project.

"Westport will be our FDI (foreign direct investment) partner in the project," said Manoj Namburu, chairman and managing director of Alliance.

He, however, declined to reveal the details of the investment.

"Hyderabad is a futuristic city with majority of economic growth happening in IT and IT related sectors. There is growing demand here for high quality and classy lifestyle living," he said while elaborating on the group's decision to enter the Hyderabad market.

Inner Circle will have a 110-room, five-star hotel on the campus offering international-standard clubhouse facilities like specialty restaurants, a gym, steam baths, swimming pool, tennis and squash courts, snooker, table tennis and banquet halls and children's play area.

Alliance Group has just completed its prestigious project "10 Downing" in Whitefield, Bangalore. It has 12 other projects on hand in Bangalore, Mysore, Chennai and Coimbatore.

Early this year, it launched a Spanish style villa project in Chennai.

Namburu said Alliance was the first real estate group in India to offer an upfront warranty to all its customers.

The group is poised to launch Real Estate TV, India's first 24X7 television channel dedicated to real estate and infrastructure.
Source: IANS
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