Cybercity township coming up at Kukatpally

Real estate developers in Hyderabad seem unfazed by the difficult times being faced by industry, if one looks at the big ticket projects coming
up in the city.
Hyderabad-based Cybercity Builders & Developers is at present working on the Rs 650-crore Rainbow Vistas township project in the upcoming Kukatpally area on the outskirts of the city.
Cybercity Builders is promoted by six entrepreneurs, three of whom are promoters of Ashoka Developers & Builders, another real estate sector major in Hyderabad. The project is a joint venture between Cybercity and Ashoka. The latter has some landmark projects in Hyderabad to its credit such as the Ashoka Bhoopal Chambers and the Ashoka My Home Chambers.
“The size of the project is 2.5 million sq ft built in multiple blocks of 14 floors each. The apartment size would vary from 1,100 sq ft to 1,500 sq ft,” Uttam
Korupol, Cybercity chief executive officer, Cybercity, told FC Estate.
Korupol said the company is confident about the project's success as there was a huge latent demand for quality housing at reasonable rates, even in present market condtions. “No matter how the economy is doing, people will always need homes to stay in,”
he added.
Rainbow Vistas would be an integrated affordable township spread over 15 acres, comprising two and three-bedroom apartments. The developers plan to build 10 to 12 towers housing 1,500 to 1,600 apartments. The prices would be in the range of Rs 28 lakh to Rs 40 lakh, depending on
the size of the unit and amenities provided.
“Cybercity has been working diligently in optimising the design through value engineering and we promise to offer value-for-money facilities,” he said. The company is planning to start construction by April this year and the project is expected to be completed within 24 months. The company has invested Rs 20 crore in the
project so far.
The proposed gated community promises amenities such as power backup, water softening plant, a club house, food court, children’s play area, walking track, automated security system, car washing area, gym and safe deposit lockers.
The project is strategically located 5 km from HITEC city and is connected by a 100-ft road to the JNTU-Kukatpally road.

Source:http://www.mydigitalfc.com/real-estate/cybercity-township-coming-kukatpally-610