Salarpuria eyes techies for Rs.10-bn housing projectAugust 25th, 2008 - 7:02 pm ICT by IANS
Bangalore, Aug 25 (IANS) Leading real estate group Salarpuria is building a mega housing project to provide luxury apartments to techies working in the electronics city on the city’s outskirts.The Rs.10 billion project, christened Greenage, is located on a prime 21-acre area on Hosur Road, around 5km from the electronics city, where about 100,000 people commute to work daily from a city beset with traffic snarls, pollution and infrastructure bottlenecks.
“There is a huge demand for housing in the peripheral areas of Bangalore, especially towards electronics city where about 50,000 techies commute to work daily,” Salarpuria director Mahesh Kaitan told IANS.
“To reduce travel time and avoid road stress, majority of them are looking for tenements closer to their workplace.”
Salarpuria has entered into a partnership with Panyam Cements, which owns the sprawling area and has secured regulatory approvals for the housing project to be executed in two phases on turnkey basis by Sattva group, a facility management firm.
“Greenage will have 10 apartment towers of 18-25 floors, consisting of 1,672 flats with two or three bedroom living space ranging from 1,345 square feet to 3,000 square feet. The project’s USP (unique selling position) is the host of amenities provided to create an exclusive township ambience,” Kaitan said.
With demand for value-added facilities becoming a differentiator in the housing sector and awareness for eco-friendly surroundings growing, the township will have landscaped gardens, jogging track, swimming pools, club house-cum-health spa, departmental store and a helipad.
As the project is located strategically in the tech city, home to about 1,600 information technology firms, including bellwethers Infosys and Wipro and about 500 multinationals, the promoters are targetting geeks working in these firms, prospective customers from other sectors, and non-resident Indians (NRI).
“Many customers who have earlier bought apartments built by us in the city have been keen on relocating here for the proximity to their workplace. With an elevated highway to electronics city, expressway to Mysore, national highway to Chennai, state highway and service roads, commuting in and out of Greenage will be hassle-free,” Kaitan sadi.
The project has been designed by the US-based architectural firm HOK and will be landscaped by Cracknell Landscape Architects of Britain.
“As one of the largest apartment complexes in the city, Greenage towers will have 75 percent of its total area marked for open spaces. The other amenities are meant for recreational needs,” Sattva group managing director Bijay Agarwal said.