Realty firm Anthem Infrastructure today said it will invest up to Rs 165 crore to develop 750 apartments in a group housing project at Greater Noida, in Uttar Pradesh.
The company will offer the flats at a price ranging from Rs 20 lakh to Rs 50 lakh.
"We will construct about 750 units and the total investment for developing the project will be about Rs 160-165 crore," Anthem Infrastructure Managing Director Prashank Bindal told PTI.
The 6.5-acre project, which has Bollywood singer Kailash Kher as its brand ambassador, will offer flats in different sizes, ranging from 910 sq ft to 2,500 sq ft, he added.
"We are expecting a sales revenue of about Rs 200 crore from this project in the next 2-3 years," Bindal said.
When asked about the mode of funding for the project, he said it will be done through internal accruals.
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This group housing project is the first residential project of the company. Earlier, the firm was engaged in developing commercial spaces only.
Anthem Infrastructure also plans to launch a 40-acre township in Dehradun.