Taking evolving consumer demand of home owners to a new height, Supertech has announced its “North Eye” project. This leading realty firm from NCR will invest
Rs 600 crore to develop a 255 meter tall residential tower in Noida, claimed to be the tallest in Northern India.
This real estate project will have 60 floors offering a total of 1.326 housing units with prices of up to Rs 2.25 crore.
The cost of the housing unit would be Rs 7700 per sq ft. The size of the flats would vary between 1,650 sq ft and 3,350 sq ft. The building would also have studio apartments targeting young professionals, with a fixed floor size of 520 sq ft. Starting from 35 lakhs, the prices of the apartments would go up to Rs 2.25 crore.
According to RK Arora, Supertech chairman and managing director, the funding for the project would be met through internal accruals and advances from customers. The company has also approached private equity players in a bid to raise funds.
Supertech also seems to be going the Jaypee way, launching a slew of projects one after the another, raising money and investing it in marketing the subsequent project. Its hard to comprehend that how do these builders plan to complete so many projects on time while they are launching one more as we talk.
ReplyDeleteSupertech also seems to be creating artificial appreciation by raising the price of Capetown and Northhigh in a jiffy!
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