City Square forays into real estate marketing

Bangalore-based property developer, City Square Enterprises Private Limited, has entered into an agreement with Manikya Meadows, for marketing the latter's 200-acre self-contained gated community project, 'Rich & Famous', near Chinna Mangalaram village on the outskirts of Hyderabad.

This marks City Square's foray into the real estate marketing services segment. City Square, which has more than a dozen gated communities, residential apartments and villa projects to its credit, already offers post-completion property management services to its clients.

"We have been fascinated by the eco-friendly concept of Manikya Meadows' project, and hence decided to market it. We are open to similar agreements if realty players approach us with projects as exciting as this," M Sunder Kumar, project manager, City Square, told mediapersons here on Thursday.

'Rich & Famous' comprises 600 plots. The plot sizes range from 500, 1,000 to 2,000 square yards, and comes with a price tag of Rs 3,200 per sq yard. Some of the features of the project include an international convention centre, fruit and avenue plantations, gourmet restaurants, spa and banquet halls.

According to Sunder, Manikya is developing a Rs 45-crore club house across 12 acres at the project site that include 28 exclusive guest houses representing the cultures of the 28 states of the country and 26 villas to accommodate visitors.

"Besides, a special Kerala House is being developed across eight acres, which would house ayurvedic centres surrounded by herbal plantations, and a boating lake,"Sunder said.

"NRIs, who want to settle in serene surroundings, form our target customers, and around 70 per cent of the plots have already been sold. We expect the first phase of the project to be completed by December 2007, and the second phase by March 2008," he added.