IVR Prime Urban Developers has entered into joint development agreement for construction of high rise residential apartments. The 9.6 acre gated community project at Kukatpally, comprises a built up area of 1.325 million Sft and a parking area for 1200 cars. The Rs 386 crore project consists of a 2 bed room apartments of 1250 Sft, 3 bedroom apartments of 1500 Sft and 4 bedroom apartment of 1800 Sft each.
The company is also set to foray into the city of Visakhapatnam with its real estate development at Vedurvada, located near the Vizag Steel Plant. The project is named Misty Woods and is spread in the area of 130 acres. The location is surrounded by the 6000 acre Naval and Air Force Academy and upcoming SEZ of Achutapuram. Companies like Brandixs Apparel Park, HPCL, Pokarna granites, St.Gobain etc are a part of this SEZ.