Sterling township in Whitefield, Bangalore with HDFC; Growth plans on anvil
The JV project is to cost Rs.3,000 to RS.4,000 crore, including land costs. The township is set in 150 acres with a total built up area of 20 million sq.ft. Of the total area, 4 million sq.ft. will be taken up by 150 high-end villas, valued at Rs.2 to 3.5 crores. 2,000 apartments are also planned in a separate phase of the project.
Sterling appears to be on a growth drive. The company is looking to acquire two South-based construction companies at an approximate cost of Rs.200 crores. The company will also open hotels in Hyderabad and Bangalore for which land was acquired last year.
By INRnews Correspondent
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