Thursday, July 13, 2006
The foreign hand waits
Overseas firms are keen to pocket a share of the burgeoning housing market in the Hyderabad city. A UAE-based firm is looking for land to build township.
With the city poised for exponential growth, foreign companies are trying to get a slice of the development cake. Projects like the Outer Ring Road and International Airport seem to hold out lot of promise for the overseas firms to set up shop here to cater to growing housing needs.
Pegasus Realty LLC, a UAE-based realty company, has set its eyes on southern India, particularly Hyderabad, for its real estate projects. The company chairman, Imtiaz Panjwani, is in the city to explore the possibilities of setting up satellite townships here. Pegasus is looking for large chunks of land - 200 acres and above - for building the townships.
The choice
Why Hyderabad? Well, all the big software companies are rooting for Hyderabad. The ORR is going to ease the traffic scene and the International Airport is another attraction. "More than this the vision of Andhra Pradesh Government is in sync with our plans," says Imtiaz. During his stay here, he plans to discuss the satellite township idea with the Government. In the next couple of years Pegasus is hopeful of the project materialising.
"Any growing city looks for small townships. And we are here to meet the demand," says Mr. Imtiaz who is from Mumbai.
Pegasus plans to bring its technical expertise in construction to Hyderabad. It boasts of an impressive portfolio of real estate offerings in high value commercial property in UAE besides development of luxurious residences worldwide. Established in 2000, this property company owns over 200 blue chip properties in all major real estate developments in Dubai.
For sale, in Malaysia
Mr. Imtiaz is in the country to market the prestigious upcoming project - Hampshire Residences - in Kuala Lumpur, Malaysia. This high end residence, which comes with all the amenities one could imagine, offers space at Rs. 6,450 per square foot. One to four bedroom apartments are now available at pre launch prices. "The apartments will have a guaranteed rental return of 10 per cent," Mr. Imtiaz assures.
He has already sold about eight apartments in Chennai and hopes to do even better in Hyderabad. "We plan to provide similar residential complexes in Hyderabad," he says.
Deal in crores!
How much does one need to cough up for this luxury apartment? Not much. Just Rs. 76 lakhs for a single bed flat, Rs. 1.10 crore for two bedded and Rs. 2.5 core for four bedded apartment. "It's a winning investment that will appreciate in value," the soft-spoken realtor adds pointing to an eye catching model of the Hampshire Residences kept at Hotel ITC Kakatiya Sheraton and Towers.
Pegasus plans to invest about Rs. 700 crores in Southern India in the next two years. It is also eyeing Chennai, Coimbatore and Vishakapatnam. "But Hyderabad will have a chunk of our portfolio," Mr. Imtiaz promises.
So, Hyderabadis get ready for some state-of-the-art high-end residences.
With the city poised for exponential growth, foreign companies are trying to get a slice of the development cake. Projects like the Outer Ring Road and International Airport seem to hold out lot of promise for the overseas firms to set up shop here to cater to growing housing needs.
Pegasus Realty LLC, a UAE-based realty company, has set its eyes on southern India, particularly Hyderabad, for its real estate projects. The company chairman, Imtiaz Panjwani, is in the city to explore the possibilities of setting up satellite townships here. Pegasus is looking for large chunks of land - 200 acres and above - for building the townships.
The choice
Why Hyderabad? Well, all the big software companies are rooting for Hyderabad. The ORR is going to ease the traffic scene and the International Airport is another attraction. "More than this the vision of Andhra Pradesh Government is in sync with our plans," says Imtiaz. During his stay here, he plans to discuss the satellite township idea with the Government. In the next couple of years Pegasus is hopeful of the project materialising.
"Any growing city looks for small townships. And we are here to meet the demand," says Mr. Imtiaz who is from Mumbai.
Pegasus plans to bring its technical expertise in construction to Hyderabad. It boasts of an impressive portfolio of real estate offerings in high value commercial property in UAE besides development of luxurious residences worldwide. Established in 2000, this property company owns over 200 blue chip properties in all major real estate developments in Dubai.
For sale, in Malaysia
Mr. Imtiaz is in the country to market the prestigious upcoming project - Hampshire Residences - in Kuala Lumpur, Malaysia. This high end residence, which comes with all the amenities one could imagine, offers space at Rs. 6,450 per square foot. One to four bedroom apartments are now available at pre launch prices. "The apartments will have a guaranteed rental return of 10 per cent," Mr. Imtiaz assures.
He has already sold about eight apartments in Chennai and hopes to do even better in Hyderabad. "We plan to provide similar residential complexes in Hyderabad," he says.
Deal in crores!
How much does one need to cough up for this luxury apartment? Not much. Just Rs. 76 lakhs for a single bed flat, Rs. 1.10 crore for two bedded and Rs. 2.5 core for four bedded apartment. "It's a winning investment that will appreciate in value," the soft-spoken realtor adds pointing to an eye catching model of the Hampshire Residences kept at Hotel ITC Kakatiya Sheraton and Towers.
Pegasus plans to invest about Rs. 700 crores in Southern India in the next two years. It is also eyeing Chennai, Coimbatore and Vishakapatnam. "But Hyderabad will have a chunk of our portfolio," Mr. Imtiaz promises.
So, Hyderabadis get ready for some state-of-the-art high-end residences.
# posted by mashup @ 12:30 AM 
