SMR
Vinay Fountain Head, the flagship gated community of real estate developers SMR
Group, would be ready by February next year. SMR would give possession of the
dwelling units then. In all, it has about 975 units in 10-acre project coming
up at Hydernagar, near the Miyapur to Ga-chibowli road in Hyderabad. The
project is situated near the IT hub of Hyderabad. According to SMR chairman and
managing director, S Ram Reddy, who is also the chief architect of the project,
the Fountain Head focused on the layout to ensure that it would not be
‘crowded’. It would have four towers, each 19 floors and a lot of landscaping.
The
project is a combination of two BHK averaging 1,200 sq ft and three BHK
measuring around 1,800 sq ft. The company claimed it has sold about 50 per cent
of the units at an average price of Rs 2,900 per sq ft. The project cost is
estimated to be Rs 350 crore, of which Rs 75 crore came from promoters, Rs 70
crore as loans from financial institutions and about Rs 150 crore from the
owners- to-be.
“The
total area of construction is about 20 per cent. We have left the remaining
open. The structure is designed to withstand seismic loads,” he said. Based on
customer feedback, it designed the living room for multiple uses. The units
would have sit-outs offering a view of the surroundings, said Reddy, adding
that the project has a 50 ft setback including 30 ft road and 20 ft greenery.
About 75,000 sq ft has been earmarked for various amenities. For health freaks,
Fountain Head would have a jogging track and separate gyms for men and women.
The
terrace garden turns into a venue for get-togethers and celebrations with
music. And for the pumped up ones, there is a dance floor, too. For leisure,
swimming pool, reading room, coffee shop and tennis court are lined up. The
gated community, where the apartments would not have common walls, would also
provide wi-fi connectivity, a three-level parking including for guests,
children play area, an amphitheatre and multiple banquet halls.
SMR has other residential projects — such as Sky City with 120 apartments in 13
floors at Uppal and Symphony with 190 units at Gachibowli — which are already
partly occupied.
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