Gulf Oil Corporation Limited has entered into a joint development agreement with Hinduja Estates Private Limited to develop 76 acre of the former’s land at Kukatpally in Hyderabad. The whole master plan of 100 acres has been submitted for approval to GHMC in May 2016.
Hinduja Estates will invest around Rs 3,500 crore in the township project, which will house residential and commercial complexes.
A part of the deal with GHMC for permissions, a 100 ft road has also been laid bang in the middle of the land connecting NH 9 to Rainbow Vistas at the back of Gulf Oil compound. This road is now ready and the company is awaiting stable market conditions to announce the project. The raod is seeing heavy traffic and the company is expecting 85-90 crores compensation from GHMC for the road.
The township will have offices, apartments, IT parks and Malls along entertainment and maybe hospital as well.
Check this presentation for what to expect...
http://www.hindujarealty.in/images/hrvl-presentation02.pdf
pg 21 to 25
Hinduja Estates will invest around Rs 3,500 crore in the township project, which will house residential and commercial complexes.
A part of the deal with GHMC for permissions, a 100 ft road has also been laid bang in the middle of the land connecting NH 9 to Rainbow Vistas at the back of Gulf Oil compound. This road is now ready and the company is awaiting stable market conditions to announce the project. The raod is seeing heavy traffic and the company is expecting 85-90 crores compensation from GHMC for the road.
The township will have offices, apartments, IT parks and Malls along entertainment and maybe hospital as well.
Check this presentation for what to expect...
http://www.hindujarealty.in/images/hrvl-presentation02.pdf
pg 21 to 25
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