Saha Group To Invest Rs 160 Crore For Housing Project In Noida

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Post By By Buniyad

11/20/2018

With Saha Groupe strengthening its hold in Delhi-NCR region of Noida, it has planned to invest Rs. 160 crores for the construction of its housing project in the area. In order to initiate its plan, the real estate giant has purchased 6.25 acres of land from another real estate company named Logix. The construction will commence in Noida’s sector 150, where Saha Groupe will be developing 480 residential units. This housing project has been set to develop under the project name of “Eminence”. The purpose of carving a niche in the area is to give a healthy competition to existing real estate developers such as Godrej Properties, Tata Housing, ATS and Shapoorji Pallonji.

As per the statement of Saha Groupe director named Aunirban Saha, they have managed to purchase the land of 6.25 acres on Noida Expressway. Indeed, the construction has already started and the project is intended to get completed within a time slot of three and a half years. He further stated that the total build up area as per the project has been estimated to 8 lakh square feet. On being asked by the total cost of the project, Aunirban Saha declined making any comments. Though, the market estimates have made it clear that the construction cost alone would come fall around Rs. 160 crores.

Throwing light on the housing units, Aunirban Saha said that the company is selling apartments at the cost of Rs. 4500 per square feet because of the festive season. As the matter of funding is concerned, the company is said to have risen around Rs. 200 crores as construction finance from Edelweiss Group. Besides the construction of Eminence project, Saha Groupe is developing three other residential projects in Noida by the name of Amadeus in Sector 143, Meghadutam Ecore in Noida Extension and Panchvati in Dehradun. All these residential projects have about 1000 housing units in total.

Taking note of the completion of the projects, the one in Noida Extension by the name of Meghdutam Encore is set to get complete by the end of next year. As per other projects are concerned, they are planned to be completed by the year 2021. Describing about the new project at Eminence, there will be a 3 acres of green space adding beauty to the housing unit for sure. This is the reason that Saha Groupe has been developing projects in liaison with smarter housing construction tactics.

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