Demand for MIG flats

By Mouli Mareedu

With the global economic meltdown affecting people’s lives, there is a sudden demand for MIG flats in and around the city, says Sun Guard Infra Projects Private Limited MD A Siva Prasad.

Despite the global economic meltdown, suddenly there is a huge demand for Middle Income Group (MIG) residential projects in and around Hyderabad. Customers want to invest according to their budget and are queuing up to buy a dream house in the range of Rs 15 lakh to Rs 25 lakh. As a result the Higher Income Group (HIG) projects are facing hard times.

A Siva Prasad, Managing Director (MD), Sun Guard Infra Projects Private Limited said that the Middle Income Group (MIG) projects are selling like hot cakes in the realty business as customers prefer to invest their money to obtain their dream house at Rs. 15 lakh to Rs 25 lakh. “Due to the impact of global financial crisis on Higher Income Group (HIG) projects sales and construction activities in and around Hyderabad, there is a mammoth demand for Middle Group and Higher Middle Income Group projects in the present scenario,” Siva Prasad said.

The Sun Guard Infra Projects Private Limited is one of the leading firms in Middle and Higher Middle Income group projects in the real estate business in Hyderabad and it has come up with half-a-dozen residential including commercial projects in Hyderabad. “We are aimed at providing a dream house at affordable price with proper facilities as per customer interest. Even as the customer spends huge money on high class homes, there is no guarantee that the so-called realty firms are using good construction materials,” he said.

Elaborating on the current Sun Guard Infra Projects Private Limited, Siva Prasad, professional architect turned realtor said that the name of the venture - Ganaditya apartments, a residential project is under progress at Mallampet, near Bollaram area, where Pharma and other industrial firms are located. “In the Ganaditya venture - two kinds of flats are available, 2 and 3 BHK. Each flat of 2 and 3 BHK will have 1075 to 1375 square feet plinth area priced between Rs. 15 lakh to Rs 22 lakh,” he said.

The other features include round-the-clock security and water supply, every flat designed as per customer's choice by experienced architects and quality material, 20 minutes drive to Mumbai- Hyderabad national highway. Venture is surrounded by various prominent educational institutions and colleges and it is very close to Kukatpally Housing Board. Some of the Sun Guard projects are coming up at Chandanagar, Gachibowli, Pragathinagar near Kukatpally, and Madhapur. “A few ventures - residential and commercial have started construction -- Sukeerth Towers- residential project at Pragathinagar, offering 900 square yard flat at Rs 17 lakh to Rs 26 lakh. Pramoditya venture located at Madhapur, where Information Technology (IT) and IT Enabled Services (ITES) firms are located offering 1080- 1400 square feet flat at Rs. 20 lakh to Rs 42 lakh. Siva Prasad started his career as an architect and has done various high-status projects globally.

He organised a consultancy in the structural design at Lagos in Nigeria and he worked for Starch biscuits, chocolates and Nutrition Company and Chili Pepper restaurant in Hyderabad. The young entrepreneur said that the Sun Guard would come up with prestigious commercial venture - Anitmadhav Elevation -- at Gachibowli in Hyderabad soon. “We chose the Gachibowli location for the commercial project as the place is becoming as major commercial hub with many business firms starting their activities here. There will also be office space for IT, ITES, Call Centre and other businesses too,” he explained.