New Delhi: Realty firm SKA Group on Wednesday said it will invest around Rs 60 crore to develop a premium housing project in Greater Noida as part of its expansion plan.
The company has so far completed four housing projects totaling 3,200 units, while two residential projects totaling 1,800 units are under construction. I am also developing a commercial project with 600 units. These projects are in Noida, Greater Noida and Ghaziabad markets of Uttar Pradesh.
SKA Group Director Sanja Sharma told reporters here, “We have launched a new residential project ‘SKA Destiny One’ in Greater Noida.Spread over 6 acres, the project will have 645 units."
The price per apartment ranges between Rs 1.5 crore to Rs 3 crore.
The company had purchased this land from Greater Noida Development Authority and the full price of the land has been paid. The total salable area is approximately 14 lakh square feet.
Sharma said the total project cost including land and construction would be Rs 592 crore.The project will be delivered by 2029.
SKA Group director L N Jha said the company will finance the project cost from internal sources and collections from customers against sales.
"We have applied for a bank loan of Rs 100 crore, which will be used as construction finance if required," Jha said.
Sharma said the company has already sold 200 units in the project. The company is currently selling units at Rs 9,500 per square foot.He said the demand for housing in Noida and Greater Noida remains high, while there is not much fresh supply in the market.
“The demand is mainly from end users,” Sharma said.
Housing sales in the top eight cities rose 4 per cent to 1,20,640 units during January-March 2024 from 85,840 units in the same period last year, data from housing brokerage firm PropTiger.com showed. Sales in Delhi-NCR more than doubled from 3,800 units to 10,060 units during the period under review.
The company has so far completed four housing projects totaling 3,200 units, while two residential projects totaling 1,800 units are under construction. I am also developing a commercial project with 600 units. These projects are in Noida, Greater Noida and Ghaziabad markets of Uttar Pradesh.
SKA Group Director Sanja Sharma told reporters here, “We have launched a new residential project ‘SKA Destiny One’ in Greater Noida.Spread over 6 acres, the project will have 645 units."
The price per apartment ranges between Rs 1.5 crore to Rs 3 crore.
The company had purchased this land from Greater Noida Development Authority and the full price of the land has been paid. The total salable area is approximately 14 lakh square feet.
Sharma said the total project cost including land and construction would be Rs 592 crore.The project will be delivered by 2029.
SKA Group director L N Jha said the company will finance the project cost from internal sources and collections from customers against sales.
"We have applied for a bank loan of Rs 100 crore, which will be used as construction finance if required," Jha said.
Sharma said the company has already sold 200 units in the project. The company is currently selling units at Rs 9,500 per square foot.He said the demand for housing in Noida and Greater Noida remains high, while there is not much fresh supply in the market.
“The demand is mainly from end users,” Sharma said.
Housing sales in the top eight cities rose 4 per cent to 1,20,640 units during January-March 2024 from 85,840 units in the same period last year, data from housing brokerage firm PropTiger.com showed. Sales in Delhi-NCR more than doubled from 3,800 units to 10,060 units during the period under review.
