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market with the launch of its first residential project — Pruksa Silvana — located in Budigere, off the upcoming 6 lane old Madras road highway. The total value of the project is Rs 219 crore. Pruksa plans to invest about Rs 20-25 billion in the Indian real estate market over the next eight years.
Pruksa Silvana, where over 430 units are planned, will comprise exclusive luxury villas and row houses with the option of 3 or 4 BHKs on 26 acres land.
Thongma Vijitpongpun, CEO of Pruksa Global, said, “Pruksa’s entry into India is a major milestone for us, as it has always been our dream to be a part of this beautiful country. Our goal is to provide those lifestyle necessities that are no more regarded as luxuries, at affordable prices.”
Row house at Silvana is priced approximately at Rs 40 lakh, while villas are priced at Rs 60 lakh. The size of row houses start at 1,240 sq ft, while villas at 1,630 sq ft. The first phase of the project is scheduled to be completed by April 2011.
The company is planning a couple of more projects in other locations in India and is looking for land in Mumbai and Chennai.
Mayta Chanchamcharat, director of Pruksa Global, said, “Once we get familiar with the market, business environment, and operations in India, we would venture into low-cost housing segment.”
In principle, HDFC, ICICI, Axis, and LIC have approved for financing the project, he said.
Pruksa has delivered 75,207 residential units until now and has 189 ongoing projects in Thailand alone. The company said it builds houses with effective system management using pre-cast reinforced concrete to accommodate the growing needs of accommodation and develop the effectiveness of the construction of each project to be in accordance with international standards.
The company uses tunnel-form technology to build row houses and uses aluminum form works to construct villas.
The brick and mortar that are normally used under conventional construction are replaced with the advanced tunnel form, which guarantees optimum quality, superior finish and greater speed, and also minimises waste from construction. The complete concrete walls ensure the walls to be stronger and benefit the clients with more carpet area and as a result enhance their living quality, the company said in a statement.
Amenities in Silvana include a club house, children’s park and play area, gym, swimming pool with snack bar and sun deck. Silvana, which is fully vaastu complaint, will also have round-the-clock security with CCTV surveillance and visitor car parking.
Pruksa is listed in the Thailand Stock Exchange since December 2005. It has since broadened its portfolio, in India, Maldives and other Saarc countries, to include townships, independent villa projects and condominiums.
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