Anvita Group takes up Rs 2,000-cr mega residential realty project

PNN
Hyderabad (Telangana) [India], July 4: Anvita Group, which is into the realty sector, announced on Thursday that it took up a mega residential real estate project, Ivana, with Rs 2,000 crore at Kollur near Hyderabad.
Spread over 12.9 acres, the premium gated community project, which will be executed in two phases, comprises a total of 1,850 flats. The first phase, which will come up in 3.5 acres, features two towers of 15 floors each and will have 450 units in total. The realty major is gearing up to hand over the units in the first phase by December 2024.
"In the second phase, four massive towers of 36 floors each will come up in 9.25 acres. We will hand over all 1,400 units of the 2nd phase to customers in 2027. As the initial offer, we are selling units at just Rs 6,500 per square feet," Atchuta Rao Boppana, Chairman and Managing Director, Anvita Group, told the media here.
According to him, the first phase development is expected to cost Rs 380 crore and the outlay for the second phase is over Rs 1,600 crore. The company is constructing two and three-bedroom apartments with sizes ranging from 1,360 sft to 2,580 sft from first floor to 34th floor. On 35-36 floors, there will be luxury four-bedroom sky villas of 2,900-5,070 sft. Car parking space will be allotted at the beginning itself.
"Ivana will have an area of 8 lakh square feet in the first phase and 28 lakh sft in the second phase," said Anup Boppana, the company's Director.
Suitable for all income group
Atchuta Rao said that the Ivana project will have space for all income groups. "I am also from a middle-class background. My family initially lived in rented houses. I built my company brick by brick in the last three decades. We are developing our projects and offering a host of amenities keeping aspirations and tastes of customers in mind," he said.
From gadgets to garden
These days, children and old people are spending time with mobiles, TV and computers if both husband and wife are working. To curb this, the project has been designed in such a way that residents can spend time walking in parks and playing sports.
"The project will have two club houses with an area of one lakh square feet. Apart from these, a garden, a swimming pool and three basement parking spaces in the towers and one floor have been allocated for the use of children and adults. There will be walking and cycling tracks. In addition to the corpus fund contributed by the flat owners for the maintenance of the apartments, we will set up a fund on behalf of our company for the maintenance of some sports facilities including coaches," he said.
A right place to organise functions with 1,000 guests
Atchuta Rao said that the Ivana project will have a park spread across 3.5 acres. It will also have sufficient facilities so that residents can organise functions with up to 1,000 guests. Besides, there will be a supermarket, a bank, rooms for children's tuition, a creche and facilities for work from home.
Facilities for funerals
If someone dies in an apartment, the family members face a lot of trouble for the funeral arrangements. Other residents feel uncomfortable too. Atchuta Rao explained that to address this issue, various arrangements are being made in the premises, including a freezer system, to the extent that three bodies can be kept until the family members from distant areas and abroad arrive.
Quality products
Atchuta Rao pointed out that in recent times, heavy rains and strong winds have caused damage to windows in some high-rise apartments. "To avoid such problems, products of international quality are being used in the project. Besides, customers can choose kitchen cabinets including cupboards from us," he said.
A civil engineer hailing from Pedapalaparru near Gudivada in Andhra Pradesh, Atchuta Rao Boppana worked in infrastructure major L&T and also in Dubai for some time before venturing into business in Dubai in 2004. He entered the construction sector in partnership with other companies. Currently his group is executing six real estate projects in India and three in the US.
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