Atlanta to Roll Out Rs 520 Crore Real Estate Projects

November 23, 2006	(1 votes, average: 1 out of 5)  Loading ...
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Mumbai-based infrastructure development company, Atlanta has been granted permission to implement the Rs 520 crore construction projects, which aims at developing township and commercial complex in Hyderabad and Mumbai respectively.

The company will roll out a township in Hyderabad at an input of Rs 500 crore and is also planning to float a special purpose vehicle in which it will hold 75% stake. The township project will include the construction of commercial as well as residential blocks and would be completed within 10-12 months.

In Mumbai, the company has decided to enter into a joint venture with Thakural Builders to shape up the construction work of 60,000 square feet commercial complex at Malad. The project, once completed, will cater to the mushrooming demands of developing commercial feasibility in the area, says a company source.

The project will involve a total cost structure of Rs 20 crore, of which only the land contains a price tag of Rs 7 crore. Major construction work is scheduled to begin in January’ 2007 and expected to take atleast 18 months to complete.

The company has also shown a great interest in constructing underground car parkings at Hutatma Chowk, Regal Cinema and Crawford market to help 2,000 parkings initiated by the BrihanMumbai Municipal Corporation (BMC). Also, this tender has been placed on high priority in the line of other tenders to be announced by the BMC by 2008.

News Published Under:   Mumbai, Real Estate Developers |