Two leading realty firms — BPTP and Jaypee Greens — have received robust demand for their affordable housing projects in the National Capital Region, signaling the revival of the property market.
Jaypee Greens, a real estate division of Jaiprakash Associates, today said it has sold the entire 3,300 apartments within 24 hours of the launch of its 70-acre housing project on Noida-Greater Noida Expressway.
The flats are priced between Rs 19 lakh and Rs 29.70 lakh.
"The phenomenal response that we have received on Jaypee Green Aman is due to the fact that we have always tried to understand the sentiment of the market and accordingly offer the right quality product at the right time and right prices," Jaypee Group Director Rita V Dixit said in a statement.
Meanwhile, Delhi-based realty firm BPTP said it has received bookings nearly four times more than its offer of 1,000 flats in a group housing project at Faridabad.
The housing project — BPTP Park Elite Floors — received 3,700 bookings against the offer of 1,000 units. It is offering the independent floors at a price range of Rs 16.08-25.56 lakh. The booking period was May 9-26.
BPTP, which was involved in India's biggest land deal of Rs 5,006 crore at Noida but had to withdraw later from the project due to liquidity crunch, has received Rs 80 crore as booking amount and could realise Rs 750 crore, if it develops all the flats for which it has received bookings.
"We have got bookings for more units than we targeted... We have not decided on number of units, which we will develop. But the company will try to accommodate all," BPTP Director Sudhanshu Tripathi said.
BPTP's group housing project is a part of its 1,500-acre integrated township — Parklands, which is currently under construction.
Giving a thrust to affordable housing, early this week realty major Unitech had announced to develop 20,000 low-cost apartments across the country within two years, which could entail a construction cost of up to Rs 1,700 crore.
The firm aims at becoming the country's numero uno within one year in the housing segment.
