Real estate giant Emami Realty Ltd is all set to invest about Rs 225 crore in order to build its 100-acre integrated township in Jhansi, Uttar Pradesh. The company will develop the massive project in two phases wherein the first phase comprising about 54 acres would be launched for sale this week from 9th -15th June 2020. The CEO of the company Nitesh Kumar clarified, “We are coming up with an integrated township at Jhansi. We will launch more than 200 plots and also develop villas in the first phase.”
The township will have a total built-up area of about 48.66 lakh sq. ft., of which 27 lakh sq. ft. would be developed in the first place. This massive project would be designed by a Singapore Architect firm. The real estate company would invest about Rs 223 crore to develop this integrated township and that the first phase of this township would begin in August this year and would be completed over the next three years. The plots would be sold between a range of Rs 27-90 lakhs, while villas would cost between Rs 55 lakh to Rs 1.3 crore. This township would be located on the outskirts near Khailar in Jhansi and the company would target both investors and end-users to market this venture. The demand of this township would also be consolidated between both branded and credible players and that this real estate giant has developed about 24 prestigious residential and commercial projects, comprising of about 36 million sq. ft. area in and around Kolkata.
Kumar commenting on this mega-venture’s location further added that “Jhansi is one of the prominent industrial districts of UP which houses administrative headquarters of BHEL, Mysore Cement, Baidyanath Ayurvedic, and Bharat Petroleum among others, but the city lacks quality living with planned development.” Currently, Emami Realty Ltd has developed enormous projects in Kolkata, Mumbai, Coimbatore, and Chennai.
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Business
Jul 04, 2020
Ishita Joshi
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Editor: EKta Joshi
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34 Shares
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Business
Feb 08, 2020
Lawstreet News Network
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5 Shares
On February 7, 2020 Emami Group, a Kolkata based diversified conglomerate, announced the sale of its cement business to Nuvoco Vista Group, which is a part of the Nirma Group. The group has decided to divest 100 per cent equity stake in Emami Group for an enterprise value of Rs. 5,500 crores. The Cement Company has a debt within the margin of Rs. 2000-2,200 crores and loans against shares worth thousands of crores. The move has been undertaken by Emami Group with the intention of becoming debt...
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