My Home launches 1,000 cr residential project in Hyderabad

Hyderabad: Rs 4,000 cr diversified business conglomerate, My Home Group has launched it’s yet another high-rise residential project estimated to value Rs 1,000 cr in the Financial District on the outskirts of Hyderabad on Sunday.

Called as ‘My Home Avatar’, the project is spread across 10 towers of G+30 each and a total of 2,780 apartments, a mix of two and three-bed room dwellings, with a price ranging from Rs 60 lakh each. It is coming up on a 23 acres land at Puppalguda in west of Hyderabad.

Enthused by the response, the group’s chairman and founder Dr J Rameswar Rao told the gathering that the project is a runaway success as over 600 flats were booked on the very first day (Sunday).

Later speaking to media, My Home Constructions Executive Director, J Shyam Rao said, “We are leaving 84 per cent of the project area as open space in the project.”

He further said that the project is designed to reuse the treated water for flush and gardening. “Even for the construction also we will not use the ground water,” Shyam Rao added. The Avatar project is expected to be completed in the next three years.

The company has successfully developed 15 real estate ventures both commercial and residential, while the company built over 7 million sq ft. About 16 million sq ft area is still under construction including three million sq ft of commercial space, he said.