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REAL ESTATE KING UNITECH TO FOCUS ON SLUMS REHABILITATION PROJECTS IN MUMBAI

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The real estate king has decided to focus on the Mumbai slums instead of concentrating on luxury projects in Delhi or Gurgaon. The developer with its partners will take only those projects which are near the slum rehabilitation routes. According to www.propertykhazana.com, a company official stressed that there is an increase in the demand for the residential properties and low cost entry in Mumbai which would help in compensating projects in NCR.
Unitech, partners will help in acquiring, clearing and rehabilitating the slums, while Unitech will take care of marketing and financial aspects of the business. The New Delhi based developer’s land area is over 320 Crores. Unitech came and sold 2 million sq feet (approx) from one of its projects in Worli at a massive 37% discount on the market rates.
Unitech is on a high because it is going to maintain an awesome range of 40-45 percent in the housing segment towards the development of slums in Mumbai. The company is expecting massive returns from Mumbai amounting to 25%, post 2012. As per the sources reported at www.propertykhazana.com, the company is also obtaining massive returns of 67% as compared to 57% from Noida and Gurgaon. The rehabilitation policy is said to be covering more than 61,000 families approximately. The letter of Intent also needs to be obtained. Furthermore, the developer is venturing into the process of launching projects in Siliguri, Vishakhapatnam at the end of year 2010. The company is concentrating on construction based projects. Unitech is into social welfare schemes like setting up the 200 acres of school and industrial areas for sale. It is selling other hotel properties for reducing the debt. It has cleared the debt of INR 2400 Crores in the first half of the year and remaining INR 500 Crores will be paid by the end of the year. For more information please visit the website www.propertykhazana.com.
Source: NBTVLIVE

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