Gowra Hallmark brings villas near Manikonda
Mar 14 2012
The project is coming up in around 11 acre and each unit will be about 4,000 sq ft. The project is estimated to cost over Rs 100 cr
The project is estimated to cost over Rs 100 crore. This is a joint venture between Gowra Ventures, the real estate and infrastructure wing of the Gowra Group and Hallmark, which had already executed some real estate projects in the city.
Gowra Aditya, one of the directors, said the company chose to develop villas considering the demand for independent dwelling units in Gachibowli area, which boasts of several skyscrapers. “Many top executives have a preference for independent houses or villas,” he said.
The company is positioning these premium villas for HNIs, NRIs and top rung executives, he said adding that it would initially take care of the maintenance of the properties as well.
The gated community will offer common amenities such as club house, swimming pool, indoor sports arena, round the clock security surveillance, power back- up and a multipurpose hall that can host small parties. The project would also have a convenience store in the premises.
“There would be emphasis on open spaces, landscaping and children playpen,” said K Gopala Krishna, another director of Gowra Hallmark.
This will be built as per green certification norms. For instance, to reduce the power load, natural gradient will be leveraged for water supply. The cables will go underground. It will also look to create terrace gardens and will have water treatment plant for secondary use.
Before this project, Gowra had developed Gowra Tulips residential project at Madhapur, among others, while Hallmark developed Express Towers at Kondapur. The joint venture will look to tap the existing client base as well.
“High-end real estate segment suffered some two years ago due to sagging demand. But now the market is buoyant and demand has picked up, particularly in the last six months or so,” said Aditya about the real estate market conditions in Hyderabad. According to him, the market is due for a price correction as the construction costs, particularly of land, labour, cement and steel, have gone up significantly in the recent past.