Anvita Group takes up Rs 2,000 crore residential realty project in Hyderabad

Anvita Group has announced that it took up a residential real estate project, Ivana, with Rs 2,000 crore at Kollur near Hyderabad. 

Spread over 12.9 acres, the project will be executed in two phases and will comprise 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 company plans 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, said.

According to him, the first phase of 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,” he added.