Construction Commences at "The Woods"

Delhi,India, June 12, 2015 (Newswire.com) - Ireo, India’s first and largest private equity fund dedicated to the Indian real estate sector, today announced the commencement of construction at “The Woods”- apartment complex at Ireo Fiveriver Township in Panchkula by M/S Shapoorji Pallonji. With township level infrastructure work already in progress. Perched along the lush green foothills of Shivaliks, a 200 acre master planned township consisting of apartments, villas & plots, is taking shape in Panchkula. Ireo Fiveriver is located in the most scenic part of Panchkula. Surrounded by Shivaliks on one side, and a forest cover on the other, the township has been designed to contain residential, commercial and leisure spaces to create a resort-like lifestyle. The Township has convenient access to NH22 and is just a 15-minute drive from Chandigarh. Mr. Madhukar Tulsi, President, Ireo, was in town to mark the commencement of construction of this project.

 

Speaking on the occasion, Mr. Madhukar Tulsi, President at Ireo, commented, “We are excited to commence construction work at Ireo Fiveriver. The township is situated amidst a lush and pristine setting surrounded by Shivaliks, Kaushalya river bed and a forest cover. The project has been conceptualized to make the most of the naturally beautiful landscape. The facilities at the township will complement the surrounding vistas. With the plethora of outdoor leisure and recreational facilities within the township, residents will enjoy a resort-like lifestyle at Ireo Fiveriver.”

 

The highlight of the township is the central apartment complex “The Woods” and will be constructed by M/s Shapoorji Pallonji. It will have the apartments in configuration of studio, 2 BHK, 3 BHK and 4 BHK units ranging from 700-2800 sq. ft. The complex has been designed to include well-planned activity areas, walking trails, children’s playgrounds, themed courtyards, fitness zones, outdoor sports facilities including multipurpose court and a swimming pool, to create a complete lifestyle for the residents. The entrance of the residential towers will open up to a central boulevard with comfortable sit outs, convenience stores, open play areas and spaces for shopping, dining and entertainment. The complex will also include commercial centre with retail, leisure and business spaces.

Other residential options in the township are villas and plotted development with sizes ranging from 155 to 1000 sq. yds. Villa neighbourhoods, plotted development and the group housing complex will be connected with safe and traffic free internal roads to provide convenient access to leisure, retail, sports and community amenities. 

A multi-facility clubhouse overlooking the lush landscapehas been conceived to cater to the recreational needs of the residents of the entire township. The clubhouse will offer a plethora of entertainment and leisure options including half Olympic size swimming pool, outdoor dining, fitness and sports facilities, and a banquet hall.

 

About IREO:

Ireo is the first and the largest Private Equity Fund dedicated to the Indian real estate sector with nearly US$2 bn of funds committed to India. The Group has a pan India footprint with a land bank of more than 4500 acres and 23 projects in prime locations across NCR, Haryana, Punjab, Tamil Nadu and Maharashtra under various stages of development and implementation. Recent successful project launches from Ireo have been “Ireo Skyon”, “Ireo Uptown”, “The Grand Arch”, “Ireo Victory Valley” and “Ireo Gurgaon Hills” in Gurgaon and Ireo Rise in Mohali.  Ireo has also made a foray in the branded residences and serviced apartments category for which it has tied up with Grand Hyatt for “Grand Hyatt Residences, Gurgaon” and Singapore-based The Ascott Limited for “Ascott Ireo City, Gurgaon”. These projects are under various stages of development. Ireo is also developing integrated township projects with residential, commercial and retail developments accompanied with amenities such as schools and hospitals in Ludhiana, Gurgaon and Panchkula named Ireo Waterfront, Ireo City and Ireo Fiveriver respectively.

Ireo has been present in India since 2004 and has evolved as a fully integrated real estate organization. Ireo’s team consists of internationally experienced and accomplished Indian and expatriate professionals from diverse backgrounds to lead initiatives and to deliver best in class products and services to their customers.

IREO has a global blue chip investor base and marquee strategic partners.