Betting big on affordable lifestyle housing, real estate major Jain Group today said it would invest over Rs 300 crore in this segment over the next 3-4 years in West Bengal.
Rishi Jain, executive director of the group, said the group was building six projects in different parts of Madhyamgram, a few km away from Kolkata, with a total built-up area of 2.2 million square feet.
"Consumers want affordable housing, but in the lifestyle segment that is not possible when the cost of land is high. So we have chosen Madhyamgram for building such affordable lifestyle housing projects priced between Rs 15 lakh and Rs 25 lakh," Jain said.
The series of residential projects under the aegis of 'Dream Homes' would be completed in the next 3-4 years.
The company has also tied up with the InterContinental Hotel Group under which three Holiday Inn hotels would be built in Kolkata, Durgapur and Siliguri.
They will invest Rs 300 crore to build the three-star properties, Jain said.
