Latest Property News 14th August 2009

Unitech to offer 5,000 affordable homes in 7 cities
August 14th, 2009.
New Delhi: After testing the project via ability of affordable homes in the range of Rs 10-30 lakh in Noida last month, Unitech, the second-largest developer ol the country will line up over 4.5 million sq ft (MSF) of residential space on the eve of Independence Day in the same category.
Unitech will invest nearly Rs 600 crore in developing these projects and has formed a subsidiary under the brand name uni Homes, for the same. It is set to launch nearly 5,000 affordable homes in seven cities — Noida, Greater Noida, Chennai, Kolkata, Bhopal, Mohali and Rewari. In the mid-income housing segment (Rs 20-40 lakh) Unitech has already booked ovei 6,000 homes since April.
In the past few months, almost every developer has started launching homes in the affordable housing segment. However, Unitech has been more aggressive in this segment and has also surpassed its peer, DLF, whicr has launched only one major housing project in Delhi, in the mid-income housing segment. “Our strategy is to beat all our competitors in the affordable housing segment and we are right on track,” a company official said.
Unitech has a target of launching 20 MSF of residential space under Uni Homes while the company will launcr nearly 30 MSF of residential space during the current financial year.

Source: Business Standard

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