Mumbai, Nov 22 (UNI) Real estate company, Puravankara Projects, has won the tender bid from APIIC (Andhra Pradesh Industrial Infrastructure Corporation) for development of a massive project at Hyderabad, involving an investment of over Rs 3,500 crores.
Puravankara's bid for the land deal was for Rs 630 crores. The Hi-Tech city project will be development on approx 6.5 million sq ft area.
As the acquired land is in a prime, high-rise zone with unlimited Floor Space Index (FSI), Puravankara Projects will use the land for mixed development of high end ultra luxury retail, residential, commercial and hospitality complexes.
APIIC floated the tender for the project with a reserve price of Rs 20 crore per acre and received three bids including from DLF and BPTP.