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Stonecraft Group recently announced that it will invest INR 300 crore to develop an expansive 110-acre township in Yadagirigutta, Telangana. The plan includes an integrated township with a projected revenue potential of INR 1,100 crore. The developer intends to allocate 90 acres for residential plots, expected to generate about INR 500 crore, while the remaining 20 acres will accommodate a senior living community comprising 333 independent homes, with estimated revenues of INR 600 crore. The Hyderabad-based firm, which is already developing over 14.5 million sq ft across various locations, noted rising interest in homes near spiritual destinations.
Stonecraft Group confirmed earlier this week that it would invest INR 300 crore in a 110-acre township development at Yadagirigutta in Telangana. The company stated that the project, conceived as an integrated township, is expected to generate revenues of INR 1,100 crore on completion. Advertisement
According to the developer, 90 acres of the land parcel will be dedicated to residential plots, anticipated to bring in around INR 500 crore. The remaining 20 acres will be utilised for a senior living community featuring 333 independent homes, with the company projecting revenues of INR 600 crore from this segment.
Kirthi Chilukuri, Founder and Managing Director of Stonecraft Group, mentioned that the 110-acre development, branded as Temple Town, represents the company's effort to create spaces that respect India's spiritual identity while aligning with the expectations of contemporary homebuyers. Chilukuri added that the firm has been noticing a steady increase in demand for homes located near prominent religious destinations.
The Hyderabad-based organisation is currently engaged in the development of more than 14.5 million square feet across various projects, covering approximately 335 acres of land.
Stonecraft Group's planned township at Yadagirigutta marks a substantial addition to its expanding development portfolio. With distinct segments for residential plots and senior living, the project aims to capture demand from both mainstream homebuyers and those seeking community-based retirement living.
Source - PTI
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