Puravankara bags major land deal in AP capital

Bangalore, Nov 21 (UNI) Amid stiff competition from realty giants, Puravankara Projects Limited today announced it won the tender from APIIC (Andhra Pradesh Industrial Infrastructure Corporation) for the development of a massive project at the prestigious HITEC City in Hyderabad involving an investment of over Rs 3,500 crore.

Puravankara's bid for the land was for Rs 630 crore involving the development of about 6.5 million sq ft, a company release here said.

As the acquired land was in a prime, lucrative and high-rise zone with unlimited FSI, Puravankara would use the land for mixed development of high end ultra luxury retail, residential, commercial and hospitality complexes.

APIICC floated the tender for the project with a reserve price of Rs 20 crore per acre and received three bids, including those from the DLF and BPTC.

UNI