Home development firm Skyline Constructions said it will build 6 premium residential apartments costing between Rs 14.5 and Rs 22 crore (Rs 145-220 million) in Bengaluru.
Avinash Prabhu MD Skyline Constructions said “The cost of the apartments will range between Rs 14.5 crore and Rs 22 crore. The apartments will be available only for a select few who are to be handpicked and invited to buy,”.
Full investment in the project Villa Maria, including the cost of the land, will be approximately Rs 100 crore (Rs 1 billion), he said. He also said Skyline would finance the project, situated on half an acre of land near Brigade Road, via internal accruals and buyers’ advances.
He said, “We may raise some debt as well”. Prabhu also said that the construction work on the project has already started and it may take 2 more years to finish the whole project.
Each apartment will differ in size lying between 6,500 to 10,500 sq ft area and will vary from each other. However, each will be fitted with separate swimming pool, elevator and other luxuries.
He said that Knight Frank has been selected as sole marketers for the project, which has drawn a list of 1,100 likely buyers and will send an invitation to selected few after the screening.
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