Om Metals in pact with Mahindra Lifespaces for Hyderabad realty project

Om Metals Developers, a subsidiary of Om Metals Infraprojects, has entered into a joint venture agreement with the realty arm of Mahindra Group, - Mahindra Lifespaces and launched a premium residential project ‘Ashvita’ a in Kukatpally, Hyderabad.

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Mahindra will develop and own 80 development rights while 20 percent rights are owned by Om Metals Developers.

Located on the road connecting HITEC City to NH 9, the project is spread over 10 acres.

Om Metals Developerexpects revenue of Rs 75 crore as its share against an investment of Rs 20 crore on a 10-acre land parcel .

Ashvita is being developed as a gated community and offers a2BHK (1218 sq ft to 1261 sq. ft.), 3BHK (1567 sq. ft. to 1847 sq. ft.) and 4BHK (2018 sq ft to 2082 sq. ft) units where each apartment is individually styled as per Vaastu norms with emphasis on open spaces to meet buyer preferences.

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“The JV with Mahindra Lifespaces will help us monetiSe our investments made in real estate,” said Vikas Kothari, Director - Business Development, Om Metal Infraprojects Ltd.