Hyderabad, Nov 28 (UNI) The Rs 4,400-crore Alliance Group of Bangalore today announced its entry into the Hyderabad Market with its "exclusive" Inner Circle Villa Project at Shamirpet promising to bring 'luxurious Singapore lifestyle' to the city.
Group CMD Manoj Namburu said here Inner Circle will have 350 magnificent luxury villas designed by Asia's top architectural firm, Surbana of Singapore.
Spread over 60 acre, it offered villas on plots spread between 2400 sq ft and 6000 sq ft priced from Rs 80 lakh to Rs two crore.
''Each villa that comes with the Alliance warranty will be an epitome of luxury and enjoy the assured security of a gated community,'' he said.
The project was aimed at meeting the growing demand in Hyderabad for high-quality and classy lifestyle living, he said, adding Inner Circle will have a 110-room five-star hotel in the campus, global standards club house facilities, specialty restaurants, fully-equipped gymnasium, sauna, steam, swimming pool, tennis and squash courts, snooker, table tennis and banquet halls and children's play area.
Work on the Rs 486-crore project will start in April 2008 and is expected to be completed in 36 months.
Westport Capital, a well-known venture Capital firm based out of Los Angeles, is Alliance Group's FDI partner in the project.
The company with 460 acres 'land bank' at Bangalore, Coimbatore, Mysore and Hyderabad plans to raise Rs 600 crore for its 13 projects underway currently.
It is targeting an IPO over the next 24 months.Alliance Group also plans to launch Real Estate TV, India's first 24x7 TV channel totally dedicated to real estate and infrastructure.