In a significant development in the real estate sector, Anvita Group announced on Thursday the launch of its prestigious residential real estate project, Ivana, near Hyderabad. This mega residential initiative, set to cost Rs 2,000 crore, is strategically located in Kollur and spans over an impressive 12.9 acres.
Designed as a premium gated community, Ivana will be executed in two distinct phases and will house a total of 1,850 apartments. The first phase covers 3.5 acres and will feature two towers with 15 floors each, comprising a total of 450 residential units. Anvita Group is diligently working to ensure these units are ready for occupancy by December 2024.
The second phase, even more ambitious in scope, will see the construction of four massive 36-floor towers spanning 9.25 acres. This phase will add another 1,400 units to the community and is scheduled for completion in 2027. As an initial offer, the company is selling these units at a competitive rate of Rs 6,500 per square foot.
Atchuta Rao Boppana, Chairman and Managing Director of Anvita Group, provided further details to the media. “The first phase is projected to cost Rs 380 crore, while the expenditure for the second phase will exceed Rs 1,600 crore,” he disclosed. The project will offer a variety of living options including two and three-bedroom apartments, with sizes ranging from 1,360 square feet to 2,580 square feet from the first to the 34th floor. The top two floors will host luxury four-bedroom sky villas, offering 2,900 to 5,070 square feet of living space. Adequate parking will be an integral part of the plan from the outset.
Anvita Group’s Director, Anup Boppana, contributed to the briefing by highlighting the extensive scale of the project. “The first phase will encompass 8 lakh square feet and the second phase will expand to 28 lakh square feet,” he noted.
Atchuta Rao assured that Ivana will cater to different income groups, making it inclusive and accessible. “Coming from a middle-class background, I’ve experienced the challenges of living in rented houses. Building this company over three decades, we took into account the aspirations and needs of our customers,” he said.
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In addition to its residential offerings, Ivana is thoughtfully designed for modern lifestyles. The project aims to mitigate the excessive screen time that children and elderly often endure, by creating engaging outdoor spaces. Facilities such as a garden, swimming pool, and tracks for walking and cycling have been incorporated to promote a healthy, active lifestyle.
Two expansive clubhouses, each covering one lakh square feet, will serve as community hubs. Additional amenities include three basement car parks, children’s play areas, and spaces for adult activities. Anvita Group plans to establish a fund, in addition to the existing corpus fund from flat owners, to maintain sports facilities and provide coaching services.
A particularly unique aspect of Ivana is its provision for community events and functions. “The project’s park area spreads across 3.5 acres and includes facilities to host functions with up to 1,000 guests,” Atchuta Rao stated. Other conveniences include a supermarket, a bank, dedicated rooms for children’s tuition, a crèche, and work-from-home facilities.
Ivana also addresses sensitive issues such as funeral arrangements. In case of a resident’s passing, a freezer system will be available to store up to three bodies until distant relatives arrive, alleviating stress for grieving families.
Atchuta Rao emphasized the project’s commitment to quality. “To prevent damage from adverse weather conditions, we are using internationally-rated products. Additionally, customers will have options for personalized kitchen cabinets and cupboards,” he said.
Atchuta Rao, originally from Pedapalaparru near Gudivada in Andhra Pradesh, is a seasoned civil engineer who has worked with infrastructure giant L&T and in Dubai. He ventured into business in Dubai in 2004 and later entered the construction sector through collaborations with other companies. Today, his group is executing six real estate projects in India and three in the United States.
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