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Paramount Group geared up to pour Rs 1100 crores in 3 ventures

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According to the sources available to www.propertykhazana.com, Paramount Group is planning to develop a Group Residential Venture – Paramount Symphony in the forthcoming integrated township, ‘Crossings Republik’ in the NCR spreading over 360 acres of property.
Paramount Group is planned to invest about Rs. 730 Crores in developing 850 apartments in the 8.5 acres venture which is likely to be completed by 2010 and it will be designed with 6 towers of 22 storey’s each. Company is associated with ‘Crossings Republik’ which is being developed by 7 NCR based realty players. In the township, company is developing one more 15 storey housing tower which is scheduled to be completed at an investment of Rs. 135 Crores. Also, it is developing 100 acres gated community at Saharanpur, which can involve an investment for over Rs. 230 Crores.
The community – Paramount Tulip will include 500 plots and 100 villas and will be given to the customers in 18 months. Paramount Group Executive Director, Ashani Kumar said to www.propertykhazana.com that, “We are estimating a comprehension of Rs. 1,200 Crores within 2 months from all the three ventures. And it is around 10% of our total investment. The company will develop 52 acres of property in ‘Crossings Republik’ by 2015. “Paramount Symphony” will have 2 & 3 BHK apartments, which will be presented at a cost of Rs. 2,300 per Sq.ft. Apart from NCR, company is presently looking at the potentials to develop housing ventures in Southern cities like Bengaluru and Hyderabad.”
Source: NBTVLIVE

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