Hyderabad|India|June '2011: South India’s biggest premium Infrastructure development conglomerate Phoenix Group (www.phoenixindia.net) has kicked of its Rs. 2000Cr upscale multi comfort residential projects investment plans with Golf Edge in Gachibowli, Hyderabad. As part of this plan Phoenix will introduce similar projects in Tier 1, Tier 2 and Tier 3 Cities in Andhra Pradesh, Tamil Nadu and Karnataka in the next 5 years.

The Rs. 350 Crores, 1 Million Square Feet vaastu compliant 30 storied upscale twin residential towers is loaded with first time comfort features. Golf Edge will have a Golf View and it will be a fully furnished, completely automated residential complex built alongside a 210 room 5 star hotel managed by one of the largest Hotel chains owned by the Duet Group. Residents of Golf Edge will also have a dedicated 24x7 apartment facility, property management services and a first time residential club house managed by Duet Group. The residential units are expected to be handed over to home owners by 2014 in 3 phases.

“Given our confidence in its long-term economic development Phoenix is continuing to invest in the southern Indian region. With projects close to Rs 10,000 crore in the pipeline, the Phoenix has seen consistent business growth in past 9 years having developed more than 2.5 million square foot area of upscale real estate properties. We hope to continue our growth by introducing iconic infra properties in the South Indian market to cater to the growing needs of the value for money Indian consumers,” Suresh Chukkapalli, Chairman, Phoenix Group said.

In his comments Gopikrishna Patibanda, Managing Director of Phoenix Group said. “We are bullish about residential property development market in Hyderabad as we see the potential for outperformance in the real estate market. This is well illustrated in the Group successful investments in the past. In 2005, Phoenix sold its premium luxury apartments at the highest cost per SFT in the history of Hyderabad city’s apartments of Rs. 10,000 per SFT.”

“We’ve always had strong interest from clients around the world to invest in Phoenix projects and already 25% of Golf Edge property has been lapped up by buyers in less than 7 months.” Gopi Said. “The key to our success is to find a model that connects with consumer’s desire and to integrate them. Golf Edge concept offers great growth opportunity for us because this format allow us to tap new set of highly demanding and value for money buyers who do not find premium, integrated, affordable home backed with comfort features to invest. They also look to associate with a developer who promises partnership with owners forever.”

Speaking about the market sentiments and the challenges faced by uncertainty in the marketplace due to political issues in Hyderabad Suresh Chukkapalli said, we are not a speculative player we are creating what is required for the market and we are not looking for an exit option. We are a long term player and we believe in long term customer relationships which is our pillar of success.

Golf Edge is located in the buzzing financial industry hub which houses more than 1,00,000 Employees and growing to around 2,50,000 to 3,00,000 employees. According to market estimates the 2,000 apartments currently developed and under development in the vicinity are well short of the demand for more than 50,000 apartments.

The Rs. 350 Crore investment activities at Golf Edge include development of 497 Units of 2 BHK, 2.5 BHK, 3 BHK and Duplex 1055 – 3595 square foot high rise Twin Tower Apartments in a current price range of INR 60, 00,000 to Rs.20, 000,000 along with multi facility services and 210 room 5 star hotel.