Having realised the potential of budget homes, Bangalore based HM Constructions has started selecting areas from its existing land bank to launch fair price homes. The company, which was earlier offering houses in the price range of Rs 30-40 lakh, is planning to launch a few fair price residential projects this calendar year.

Manjusri, DGM, sales and marketing, HM Constructions, said, Though some of our residential projects can be called low cost or budget homes, we decided to call it fair price home, as nobody likes to associate their hard-earned money with low cost products.

The company ongoing projects include HM North City, HM Sepia and HM Symphony. Under super luxury category, the company has HM Tropical Tree and 38 units project HM Grandeur.

HM North City, which is about 3.8 km from Yelhanka town, comprises two and three bhk flats and the price starts from Rs 23 lakh. HM North City, launched at the beginning of 2010, is spread over nine acre and is scheduled for completion by June 2012. The company has opened only a few blocks for booking as of now.

Spread across 28 acre, HM Sepia is located on JP Nagar. Once the metro project is completed, the company believes the connectivity will be comparatively better visavis other projects in the vicinity. This project is a part of HM world city and has close to 100 units.

Most of the units at HM Sepia, with prices starting Rs 35 lakh, are booked. The project is scheduled for completion by January 2011.

HM Symphony, being developed over more than four acre, off Sarjapur Road, comprises two and three bhk units with prices starting at Rs 41.5 lakh. According to HM, the project is ready to move. Targeting high-profile customers, the company has launched HM Tropical Tree super luxury apartments at RT Nagar.

The project comprises three bhk and five bhk apartments with a starting price of Rs 1.23 crore. The project is scheduled for completion in two years. Located on Wheeler Road, Frazer Town, HM Grandeur, a super luxury project, comprises apartments with a starting price of Rs 3.3 crore, and has 38 units.

The amenities in the project include swimming pools, Jacuzzi, steam, sauna, clubhouse, gym, play area, indoor games, and squash. The company has booked one-third of the units and the project is scheduled for completion by 2011 end.

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