Lahari Holiday Homes Limited, the leisure and entertainment arm of Lahari Group, today unveiled Lahari Suite Homes, a Rs 40-core service apartments project on the outskirts of Hyderabad. Modeled on the lines of ‘own a service apartment’ concept, the six-acre project will have 737 apartments, each carrying a price tag of Rs 12 lakh.
Hari Babu said under the concept, owners of these homes will be leasing out their apartments back to the company for a period of 15 years for which they will be paid a monthly rental of Rs 5,000, with an incremental amount of 20 per cent over the last rent received every five years. “The project will be completed for occupation by March 2011 and we expect about 300 bookings by this fiscal end,” he said.
