Dream India, FIMA Properties to develop a luxury housing project in Hyderabad.

The Dream India Group and FIMA Properties have unveiled a luxury residential property in the upmarket Banjara Hills, which will see investment of about Rs. 270 crore.

The property, located close to the IT hub of Hyderabad, is spread over a 2-acre site and will have fourteen towers with one apartment in each floor. The apartments, with sizes ranging from 2500 sq.ft to 4500 sq.ft are priced at Rs. 10,000 per sq.ft. Each tower will have three floors of facilitation space, including parking and eight floors of constructed space with one apartment in each floor. The project will have 106 apartments in all.

“The project named, The Valencia, (Braveheart in Spanish), is at advanced stage of development, and is expected to be ready for occupation by December 2017. These are priced in the range of Rs. 2.5 crore to Rs. 4.5 crore, and provide the ultimate luxury experience for home owners,” Syed Rafi Ishaq, Chairman and Managing Director of Dream India, said.

Addressing a press conference along with Mohammed Mustaq Ahmed, Managing Director of FIMA Properties, the venture partner, Ishaq said this is the diversified Dream Group’s seventh venture in the past seven years, which includes villa projects and apartments.

The Dream Group, a diversified entity with interests in construction, real estate and exports, sees this as a landmark project in Hyderabad.

HBL