Omaxe to build low-cost housing project in Allahabad

Realty firm Omaxe on Thursday said it would develop an affordable housing project in Allahabad with an expected sales realisation of over Rs 150 crore.

Updated: Jun 03, 2010, 20:00 PM IST

New Delhi: Realty firm Omaxe on Thursday said it
would develop an affordable housing project in Allahabad with
an expected sales realisation of over Rs 150 crore.

The 20 acre project Naffhil Homes will be a part of 1,535
acre hi-tech city in Allahabad. The company would offer 920
flats at a price range of Rs 9.57 lakh to Rs 17.8 lakh.

Naffhil Homes will have estimated revenue of over Rs 150
crore and would be ready for occupancy in around 30 months,
Omaxe said in a statement.

"To cater to the unmet demand of about 25 million
housing, we have launched Naffhil Homes, affordable housing in
the range of Rs 9.57 lakh-Rs 17.8 lakh," Omaxe Chairman and
Managing Director Rohtas Goel said.

The Delhi-based developer has 53 projects in hand, out of
which 21 are integrated townships, 21 group-housings, 9 malls
and commercial complexes and two hotel projects. The company
marks its presence in 38 cities and 10 states across the
country.

PTI