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Bangalore based RMZ Corp eyes at the residential realty

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Bangalore based leading corporate realty developer RMZ Corp is now foraying into the residential sphere realizing the importance and growing demand in the residential realty of Bangalore. As per the sources available to the www.propertykhazana.com presently RMZ Corp is planning 60% residential and 40% commercial and retail space in the couple of years and hence making its portfolio much stronger.
Raj Menda, MD RMZ Corp revealing more on the projects said at the www.propertykhazana.com that the company is highly focusing on the residential projects and similarly there are plans on board to come up with about 10 Million Sq.ft in 5 years and certainly the company is believing a 20% turnover alone from the residential segment.
To start with the company is planning to construct 470 residential ventures including posh villas and condos with the price tags ranging from Rs. 70 Lakhs – Rs. 5.8 crores. And the project will be open for booking shortly and expected to be completed by 2014. Mr. Raj Menda also added that the company is investing Rs. 900 crores initially for 3 projects and are on plans of raising equity by the mid of the financial year.
RMZ Corp is also equally involved in segregating the Land Bank in all major south Indian cities and the talks are on to purchase 15 Lakh Sq.Ft property in Chennai and Bangalore. RMZ Corp currently with about 3.5 Million Sq.Ft commercial ventures under progress is eager to enlarge its portfolio.
It is reported by the source at the www.propertykhazana.com that RMZ Corp has purchased 25 acres land in Bangalore on the Outer Ring Road for a whooping sum of Rs. 1000 crores from Adarsh Developers and With this the company has purchased and developed about 13 Million Sq.Ft.
Source: NBTVLIVE

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