Salarpuria Sattva to launch Necklace Pride in Hyderabad
Hyderabad- Renowned Bangalore-based developer Salarpuria Sattva has announced the launch of “Necklace Pride”, a mixed-use development project in Necklace Road, Hyderabad.
Following the completion of the Cyber Garden project in Hitec City, the company is launching this project, said Bijay Agarwal, Managing Director of Sattva Group.
Being spread across 8.5 acres in the centre of the city, the Rs 600 crore residential project comprises 424 units of two and three bedroom apartments across five towers. A 20,000 sq ft clubhouse with a swimming pool in the terrace, gym and an indoor badminton court has been planned in the project.
The project includes residential, commercial and retail spaces comprising 1.6 million sq ft built-up area. It includes 9 lakh sq ft of residential, about 2.5 lakh sq ft of retail and 4.5 lakh sq ft of commercial space.
Necklace Pride is expected to be completed by 2015. The private equity firm, Horizon has invested in this project.
Salarpuria has also been planning to develop a mixed use integrated township project in Visakhapatnam on a 55-acre site.
Agarwal said that though the pace of construction activities in Hyderabad has slowed down, owing to the city’s excellent infrastructure, there is enormous growth for real estate projects in Hyderabad.
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