Sunteck Realty Aspirational Housing Project Naigaon, Maharashtra

Sunteck will develop the complex on 100 acres, in a joint venture with local landowners. The project will be completed in five to six years' time. Prices are at Rs 35 lakh for a one bedroom hall kitchen apartment and Rs 45 lakh for a two bedroom hall kitchen apartment.

1
99

Sunteck Realty Aspirational Housing Project Naigaon, Maharashtra

Plush housing complexes will no longer be the preserve of niche in South Mumbai localities or those in suburbs like Bandra and Andheri. Naigaon in the western suburbs will soon see an ‘aspirational’ housing project Naigaon from luxury housing company Sunteck Realty Ltd.

Read Also: Sunteck Realty Acquired 100 Acres Land For Low-Cost Housing: Mumbai

The company, which plans to invest more than Rs. 3,000 crore in the project, claims it is bringing in more facilities to the regular housing space, such as clubhouses and swimming pools.

Sunteck will develop the complex on 100 acres, in a joint venture with local landowners. The project will be completed in five to six years’ time. Prices are at Rs 35 lakh for a one bedroom hall kitchen apartment and Rs 45 lakh for a two bedroom hall kitchen apartment.

Read Also: Group Satellite Launched Aarambh Affordable Housing Project Mumbai

Chairman, Managing Director, Sunteck Realty, said the company sees high potential in Naigaon, which has not seen the desired price appreciation though it is closer to Mumbai than either Vasai or Virar.

The project, he said, will change the locality’s profile, and is expected to generate revenue of over Rs 5,500 crore. A lot of people will look at the opportunity to settle in Naigaon due to its affordability and easy connectivity. Future infrastructure like the 5-km sea link on the Vasai creek will enhance Naigaon’s connectivity to major locations, driving demand up further.

Read Also: Top Real Estate Companies entering the Affordable Housing Market

He also said the affordable housing segment is a key growth driver for the real estate industry, as it now enjoys government support through interest subsidies.

Source Link- http://www.thehindu.com/.

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here