Team4 Life Spaces managing partner Rajesh Prasad
Four of our friends together started Team4 Life Spaces. From the beginning itself, we made it clear that for us, providing quality houses and timely delivery is more important than the money we make, said Rajesh Prasad, managing partner of Team Four Life Spaces. Speaking to Real Estate Guru, he specifically explained the latest situation related to the city’s real estate market. He said that he designs projects by thoroughly studying the real estate sector in Hyderabad. And the summary of the interview is, in the words of Rajesh Prasad:
We are currently constructing two big skyscrapers in Hyderabad. We have launched affordable luxury flats in Miyapur, keeping in mind the middle-class public. We have named this project Team Four Nyla, which is a RERA-approved project. We have designed an Uber luxury project in West Hyderabad, keeping IT and NRIs in mind. As both of them are in prime locations, we got a good response from the buyers, as we expected. We were able to sell more flats than expected. Apart from acquisitions, construction work is also being carried out vigorously. All four of us are working together with the desire to give the best to the buyers.
Model floor concept…
The construction work related to the Nyla project in Miyapur is going on fast. We are moving ahead without compromising on quality. However, after completing 25 storeys of the Nyla project, we wanted to show the buyers what the entire floor plan would look like. Generally, we have already seen model flats in many projects. But, unlike that, we have launched the model floor concept. I think no builder in the city has done this till now. We thought to tell the buyers about east- and west-facing flats. We wanted them to know about the building materials used in the construction. The buyers got to know with their own eyes how we are delivering nine types of flats in three blocks. Everyone understands our quality. Hence, we are able to sell more flats than expected in Miyapur itself.
Reason for acceptance…
When Nyla started, we had a word in advance. It doesn’t matter how much we earn on this project; we have decided to provide quality flats. We believe that the happiness of the buyers is the key. Only then did we think there would be customer acceptance. At first, we used to sell one hundred and one hundred and fifty flats. Buyers are informed about the quality and progress of construction work. That’s why, without any advertisement, they are going to buy it themselves.
If you notice, construction on four or five projects is going on in every area. What the customers do is re-evaluate all the projects for about a month or two. How is a developer doing? How is quality maintained? After seeing all this, including the progress in the construction work and the quality, they came to us and finally bought the flat. In this way, every month we are selling the required number of flats. In total, we now have about 90 flats with us. We are confident that they will also be completed very soon. The initial buyers have already received good appreciation. Currently, our price is affordable for everyone. Hence, we can say that our Nyla project is value for money.
Two projects
We are currently developing two projects. We are constructing the Nyla project in Miyapur, which has an area of 1.5 million square feet. The other project, Arka, is being constructed in Manikonda on 3.5 million square feet. We are making preparations to build another project in Miyapur itself. There is also an idea to take up villa projects if a good place is available in the city. For those who want to buy properties in Hyderabad, it is best to buy in RERA-approved projects. Moreover, only projects with quality and timely delivery should be selected.
