Unitech rains low-cost projects

Unitech rains low-cost projects
Hindustan Times, August 13, 2009, Page 25

Unitech is likely to launch 4.5 million sq ft of mid-income housing projects priced between Rs 10 lakh to Rs 30 lakh under its Uni Homes brand across seven cities this week.

The projects will have a mix of plots, independent floors and apartments with an expected completion time of up to two years. This is in line with the firm’s strategy to launch a total of 20 million sq ft space of mid-income homes during the current financial year.

Around 5,000 houses less than 1,000 sq ft in area are expected to be announced in Noida, Greater Noida, Chennai, Kolkata, Rewari, Bhopal and Mohali, sources close to the development said.

The construction cost is estimated at Rs 600 crore. The homes are likely to be a part of the integrated township and include convenience stores, community centres, medical services and shuttle bus services in some locations.

For its Chennai project, the company has tied up with Food Bazaar for setting up a convenience store and with the Delhi Public School for setting up a school, the company mentioned in an investor presentation. Unitech also stated that it is in talks with hospital chains for setting up a medical facility within townships but partnership details were not immediately available.