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Omaxe promises 1 Million low cost homes

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Omaxe Ltd is in hunt for the business associates to develop 1 Million reasonable residences in various places in the country within 8 years. Company is proposing to invest Rs. 500 Crores in the project and scheduled units will be of 300-1,000 Sq.ft with price tags of Rs. 2.99-9.99 Lakhs. Township ventures of 100 extra acres are mainly in Tiers I & II Cities will reside of multiple buildings of two floors including ground floor.
Mr. Rohtas Goel, Chairman of Omaxe Ltd. said in a verbal communication to the www.propertykhazana.com that, “Company will operate in combo with local business associates in each of the scheduled places, and also engages in purchasing property in favor of the company, hookup and market the units, also to bring the funds for the property development. We have accepted nearly 1,000 proposals from potential associates” he added.
Making clear of exclusive prototypical, how property input is taken care of, Mr. Goel said to www.propertykhazana.com that, “Omaxe Construction and Infrastructure Ltd. will be taking up the construction work with Rs. 500 Crores from its parent company, through companies account or from debt.” Construction price has been clinched at Rs. 600 Sq.ft and the company will not go beyond the floor area ratio of one, while any surplus construction will call for extra cost with the company intense in certifying FSI cost Rs. 100 for per Sq.ft.
Source: NBTVLIVE

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