Realty firm Omaxe said that it will develop four new housing projects at an investment of INR 1,500 crore over the next three years and is mulling increasing prices of existing projects within three months.
Mr Rohtas Goel CMD of OMAXE on the sidelines of a National Real Estate Development Council said that “We will launch four projects in the next two months. Our plan is to develop a total of about 2,000 units in these projects.”
Mr goal said that the company would launch the projects in Faridabad, Indore, Allahabad and Chandigarh within the next two months and it has already acquired the land. He added that “The total investment will be about INR 1,500 crore and we are expecting a revenue realization of INR 2,300 crore over the next 30 months.”
The National Capital based company would consider increasing the prices of its products within this year. Mr Goal said that “I guess demand will be such that I may have to raise prices in my existing projects within this year.”
Asked about the quantum of possible price hike, he said that it would be in single digit, but in future, it may be more.
(Sourced from http://www.steelguru.com/news/index/2009/09/30/MTEzOTcw/Omaxe_to_invest_INR_1%252C500_crore_in_four_projects.html)
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