Unitech to invest INR 600 crore on low cost housing
Thursday, 13 Aug 2009
BL reported that enthused by the robust demand for its affordable housing projects, realty major Unitech said that it would invest INR 600 crore to develop 5,000 such units in seven cities across India.
Unitech would launch affordable housing projects in seven cities this week. It said that the projects would come up at Noida, Greater Noida, Chennai, Kolkata, Rewari, Bhopal and Mohali.
A company spokesperson said that "The total area to be launched in these seven cities would be 4.5 million square feet.”
It said that the company has land to develop these projects and would invest INR 600 crore on construction, he added. Unitech is aiming to launch 30 million square feet of housing space in FY'10 including 20 million square feet under Uni Homes.
The spokesman further said that "We have received overwhelming response from the customers and have sold more than 6,000 apartments comprising seven million square feet of area.”
