Omaxe to launch 10,000 low-cost homes in Indore

Submitted by Poonam Das on Fri, 01/16/2009 - 22:56

Omaxe Limited, India’s leading real estate developers has informed that the company will launch 10,000 low-cost homes in Indore next month, which would be developed at about Rs 1,000 crore.

According to the sources, the company will launch the flats in the range of Rs 4-10 lakh, in February at a 200-acre township.

The size of the flats would be 350 square feet upwards and the construction would be completed in 18 months.

Further, the company revealed that it will sell these units at a margin of 10-15 per cent.

It may noted that In May 2007, Omaxe had announced that it would develop 10 lakh affordable homes for low-income consumers in five years at Rs 80,000 crore.

Recently, Omaxe has secured contracts from Punjab Infrastructure Development Board (PIBD) and Punjab Public Works Department (B & R Department) for the Construction of Modern Jail at Kapurthala & Faridkot.

These projects are to be constructed over an area of 70 acres each with at total estimated cost of Rs 210 crores.


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