Green Home, the Hyderabad-based residential and commercial space developer, has launched a gated community villa project christened Icon’s Isle in Hyderabad. The company, according to a senior official, would invest Rs 320 crore to set up this villa project which will take five years to be completed.

Coming up on 24 acres at Jalpally near the Rajiv Gandhi International Airport, the project encompasses 150 triplex villas having a built-up area of 244, 267 and 354 square yards, with prices ranging from Rs 95 lakh to Rs 1.35 crore.

BV Sairam, director, Green Home said, “The project, scheduled to be completed in 18-24 months from now, will be fully funded through internal accruals. A 200-room, eleven-storeyed five-star hotel has been planned near the project site. We are awaiting necessary approvals from the Hyderabad Airport Development Authority (HADA).”

The over Rs 150 crore company, which has so far completed 18 residential and commercial projects on 2,000 acres, is currently developing Detroit, an independent 350-unit duplex villa project on 111 acres in Chennai.

“The over Rs 400 crore project will be completed in the next two years,” Sairam said.