Cybercity builders and Developers announced its latest project “Rainbow Vistas” offering two and three bedrooms flats with rich amenities at Rock Gardens near Hi-tech City MMTS Station. Sprawling across 12.5 acres, the venture consists of eight blocks offering flats that are spread over 1080 sq.ft to 2075sq.ft. At a price of Rs.30 Lakhs onwards.
The phase-I of the project, consisting of 400 flats, Was sold in 100 Days. Rainbow Vistas is a self sufficient High rise township with four acre central park and a club house on hilltop. It offers living spaces at a price of over Rs 30 Lakhs.
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Given the market conditions the company management that the project is aimed at catering to the in-demand affordable housing segment with 2- to 3-bedroom apartments in a gated community environment.
Mr Uttam said the company was in parleys for development of two malls-one at Kukatpally and other at Madhapur near IT Hub of Hyderabad.
The company executive maintained that there is significant presure on raising finances from a buyer's perspective and some more rate cuts would help ease up the situation.
Giving a different perspective about the real estate sector, especially the affordable housing segment, the Chairman and Managing Director of IVRCL, Mr. E. Sudhir Reddy, who have acquired land, say, two years ago, it is very difficult to address the affordable housing segment. Unless the land work out to about Rs. 100 per sq.ft., it is not easy to cater to the affordable housing segment. And to make this Attractive to buyers, we will have to make these apartments extremley small.
There fore even though we have a land bank of 3,300 acres in various parts of the country we are going slow on real estates. The is now limited to a 20-acer site in chennai, and projects in bangalore and Hyderabad,"
Rainbow Vistas is a joint venture by Ashoka Developers & Builders Ltd., (ADBL) and Cybercity
Builders & Developers Pvt. Ltd.Rainbow Vistas is an integrated gated community with high-rise
residential towers. It is strategically located near HI-TECH City, MMTS with the City's IT hub
on one side and prime residential zone on the other.
Cybercity Builders & Developers Pvt. Ltd
Green Hills Road, Near HI-TEC City MMTS ,IDL Road, KPHB, Hyderabad – 34
Andhra Pradesh, India
Phone: + 91 40 32 42 4444