A 796 luxury apartment project — Elegance — will be launched by the Hyderabad-based realty player Modi Builders. Project location is at a distance of about 5km from Kukatpally and 12km from the hi-tech city area. A statement by the company’s spokesperson highlighted that Modi Builders aims at catering the increasing demand for residential real estate in the city.
The project Elegance covers an area of about 5.5 acres and consists 796 premium apartments with luxurious specifications. It is completely residential and well-approved by HUDA as well.
Like its other projects, Modi Builders has included various amenities, such as completely compounded security, swimming pool, club house, sports facility (badminton, squash, tennis, basketball), gardens, playgrounds, double cellar car parking, among a few others.
This year, Hyderabad has emerged as one of the most promising real estate markets in the country. A number of factors like the clearing of political uncertainty, buoyant office space activity and affordable pricing policies have boosted the city’s realty prospects. With such favourable factors, Hyderabad’s unsold inventory has also declined significantly.
Statistics show that Hyderabad’s total unsold inventory in Q2 2016 was 35,560 units. It declined by around 14 per cent in the corresponding quarter of the next year. The unsold stock further reduced by 13 per cent in Q2 2018 as against the same period in 2017. Within 2 years, the total unsold stock in Hyderabad witnessed a decline by almost 29 per cent.
“Addressing the increasing realty demand in the prime locations of the city, we have come up with this project Elegance. It is embedded with state-of-the-art features for supporting a modern lifestyle,” said an official statement by Modi Builders.
“We’re overwhelmed with the response we have been receiving for all our projects. It makes us resolute about coming up with more such projects. Looking forward to the response we get on this one,” they added.