Poulomi Estates Managing Director Prashanth Rao clarified that the revoking GO 111 will not have much adverse impact on areas like Kokapet. He was happy that the Kokapet area has been developing very much like any of the modern cities. He said it took almost 15 years for Kokapet to grow organically and reach this stage. He reminded that the area did not develop overnight. Infrastructure along with facilities like schools, hospitals and others are already available. He said it would take a considerable time for the areas under GO 111 to develop with basic infrastructure which could eventually turn into a premium locality in the future. He spoke to the ‘Real Estate Guru’ about the current situation in the Hyderabad’s real estate sector and Poulomi’s current and new projects. The highlights of his interview are..
We are readying to launch a new premium residential project called the Poulomi Palazzo, a very premium and high end apartment project located in the Golden Mile Layout of Kokapet, Hyderabad. The title is crystal clear as the land was auctioned by the government. The project is located in 2.3 acres of land. Poulomi Palazzo is abutting the Outer Ring Road (ORR) on one side, a 80-foot road on the other, and a 3.5-acre government park on the other side. The main reason for building such a large format apartments was considering the growing demand for premium villas in the aftermath of Covid-19 pandemic. However, it is difficult to build villas in places like Kokapet in the wake of rising land prices. Therefore, we decided to build high-end large size apartments.
We decided to build the Poulomi Palazzo with 55 floors resulting in about 204 metre high construction. Only 135 flats will come under this project. It has all the high end facilities. We are setting up a roof top infinity pool on the 52 floor with a party deck. The first five floors are reserved for the greenery and clubhouse only. Interestingly, we are also setting up an internal club house such that the flat owners will be able to enjoy all modern facilities as per their convenient timings. Sometimes it is not possible to jog/walk outside due to the weather conditions, hence we have also provided for a covered jogging track on the third floor. Children also have indoor play equipment to be used at all times of the year. Another unique feature of the apartments is the double height balcony. The ceiling of the balconies is 24 feet and thus, will give you feel like you are living in a villa. We are building this project using modern construction technology and are striving to complete it in next four years.
Kokapet is currently a premium destination. All those who want premium living are coming here. Already the area is considerably developed. There are IT offices all around. Land rates have increased a lot. It has become a very expensive business to build a villa in this area. Hence, we chose to build the 55 floor high skyscraper. We have a good track record in Kokapet over the years. We have already completed Poulomi Aristos and Poulomi 90 and handed over the properties to buyers. Poulomi Avante which has 475 units, is currently in the final stages of construction and will be ready for occupation within next one year.
Most of the clients in Hyderabad give priority to Vaastu. Therefore, the projects have to be built to suit their tastes. We cannot experiment like Mumbai and Bengaluru. Unlike cities like Bengaluru where everything is compact, the master bedrooms and living areas in Hyderabad units should be large. As the space in Bengaluru is very premium, the projects are constructed to suit the same. We are planning to undertake a big project in Miyapur. We are currently working on launching a 7.5 million sft residential project. Poulomi Infinity is our new IT project, being launched in the land adjacent to Poulomi Palazzo is a Grade A IT office space coming up in 2.30 acres of land and with 1.1 million sft of office space. The project work has also commenced and expected to be handed over in 2 & half years from now.
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