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Unitech to release around 4000 crores for promotion of 30mn.sq.ft office and housing segment

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Unitech, India’s second major realty group may pump in Rs. 4000 crores for construction of houses and offices which may kick-off next year. Sources available at www.propertykhazana.com say that the group aims to increase the property rates by nearly 12% during 2010. The MD of the group in a statement said that out of nearly 30million sq. ft. space, around 90% space would be set aside for housing region which may necessitate around 4000 Crores for execution of the project.
Under the trademark of ‘Unihome’ the group would construct a reasonably priced house which is around 70% for the housing sector. Sources available at www.propertykhazana.com say that currently, the group has constructed 21 million Sq ft reasonably priced houses. The group intends to increase its prices in due course if there is continuity in demand and vice-versa. The group does not have any thoughts to go for IPO in the near future. On the contrary it may raise the same by way of liability. For further details visit www.propertykhazana.com.
Source: NBTVLIVE

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