Sumadhura Group to invest Rs 1,500 crore in next four years in Hyderabad
Sumadhura Group, a well-known Realty player, plans to invest Rs 1,500 crore in Hyderabad's residential real estate market over the next four years, according to a company official. This includes its stake in the city's tallest residential tower, the 44-story Olympus in the Nanakramguda area, which Sumadhura Group and Vasavi Group are constructing at a cost of Rs 1,000 crore.
Sumadhura Group chairman Madhusudhan G told Telangana Today, "We have completed 11 projects in Hyderabad so far." The Olympus is one of three projects we are currently working on (where we are investing Rs 500 crore). With a total investment of Rs 1,000 crore, we have two upcoming residential projects in Kondapur and near the airport road. Over the next three to four years, we plan to invest approximately Rs 1,500 crore in Hyderabad. This could include office and commercial space, as we have in Bengaluru, where we are building a technology park, warehouses, and cooperative living projects."
According to Sumadhura group MD Madhusudan G, in addition to the Olympus project, which will be built near the Waverock building, Sumadhura is also planning a residential project on a 10-acre site near Shamshabad airport, which is expected to begin next quarter.
Given the growth potential of the Hyderabad real estate market, the Group is eager to investigate opportunities in office and commercial space development, as well as mixed-use development projects, in the near term. A residential project in Kokapet tends to work, for which the company has acquired 4 acres of land, he said, adding that while the land has been acquired, registration formalities have yet to be completed.