Date:03/06/2006 URL: http://www.thehindubusinessline.com/2006/06/03/stories/2006060301461900.htm

Back Prajay Engg begins work on `Harbour City'

Our Bureau

Hyderabad , June 2

Prajay Engineers Syndicate Ltd has launched its mega township project `Prajay Harbour City,' a large format integrated township opposite NTPC at Visakhapatnam.

Prajay Harbour City would be spread across an area of 149 acres and comprise 1,044 independent houses.

The built up area of these houses would range from 950 square feet to 1,450 sft.

They would be equipped with all modern amenities for the convenience of discerning residents.

The company informed the stock exchanges that Prajay Harbour City would be amongst the premium townships in India with all modern amenities resulting in internationally comparable living standards for the residents.

The capital outlay for Prajay Harbour City is expected to be Rs 55 crore and the project is expected to yield Rs 126 crore in revenues and Rs 51.5 crore in profits, the company said. Prajay Harbour City is eligible project for exemption under section 80 1B of the Income Tax Act, 1961.

The project would have a saleable area of 1.3 million sft apart from Club House and other common amenities for the residents of 40,000 sft. It would be completed over the next 24 months, the company said.