Don’t miss the latest developments in business and finance.

Omaxe launches Rs 110 cr complex in Chandigarh

Image
Madhvi Sally Chandigarh
Last Updated : Feb 06 2013 | 6:11 AM IST
Delhi-based real estate developers major Omaxe Construction Ltd has launched a residential complex project in Derabassi, Punjab. The group is also very close to coming up with a mall in Chandigarh.
 
The Rs 110-crore complex will be developed on 15.89 acres, comprising 652 apartments in eleven towers.
 
According to Amitabh Bhattacharya, senior vice-president, Omaxe, the project is expected to be completed in two years.
 
"The complex will consist of two bedroom and three bedroom apartments with dedicated car parking,24 hour water supply and 100 per cent power backup" Bhattacharya said.
 
The two-bedroom apartment will be having a super area of 1250 sq feet and the cost will range from Rs 15-16 lakh. The three bedroom apartments will have a super area of Rs 1590 sq feet and will cost Rs 19-Rs 20 lakh.
 
Omaxe Greens will come up with Omaxe Shopping mall adjacent to the residential complex which will provide facilities of a metropolitan city and offer unique shopping experience. "The complex will offer all modern day facilities, from and in-house club with swimming pool and a high-tech health club, 24 hour security, to manned entry exit. Also, each tower will have a dedicated park with lawns surrounded by flower beds and small trees."
 
On the future projects of the company, Bhattacharya said, "We are coming up with three housing projects in Baddi, and as per market requirement will come with one (studio apartments), two and three room apartments. We are alive to the situation of upcoming towns like Mohali and are processing and watching."
 
The company is likely to close the financial year with a turnover of Rs 800 crore and is targeting Rs 1200 crore in 2006-07.
 
 

Also Read

First Published: Jan 13 2006 | 12:00 AM IST

Next Story