The Hindu : Andhra Pradesh / Hyderabad News : Indu Projects plans lower middle class apartments

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Sunday, Aug 17, 2008
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Andhra Pradesh

Andhra Pradesh - Hyderabad

Indu Projects plans lower middle class apartments

A. Saye Sekhar

HYDERABAD: Indu Projects Ltd will build about 10,000 apartments in the city in the next three to four years to benefit the lower middle classes (LMG), who cannot afford a monthly instalment of more than Rs. 10,000.

Removing the overheads and costly facilities like clubhouse and swimming pool, optimum utilisations of space (bringing down common area from 40 to 15 per cent); using no-frills elevators; and avoiding high-rise structures which will have higher floor space index (FSI) will be a few measures that keep the cost of the condominiums affordable.

Not always the cost of the land takes the lion’s share in building apartments, said I. Syamprasad Reddy, CMD of Indu Projects, in an interview on Saturday.

The cost of a square foot was likely to range between Rs. 800 and Rs. 1,000 and the carpet area of every flat would be 600-800 sq. ft.

They would be located within a radius of 15-20 km from the central business district (say Punjagutta).

Scouting for land

The company was scouting for land, about a couple of km away from MMTS stations, so that bus transport could get the residents up to the rail connectivity.

The company was planning to develop 1,000 apartments each in about 10 locations. Non-conventional cellular concrete blocks in place of bricks would be economical and the time for completing the structures would come down drastically.

No compromise on quality, he asserted.

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