Supertech, a well known realty firm to launch a township project at Gurgaon. The company has bought Parsvnath Developers to devleop the project on 140 acres land at Sohna Road, Gurgaon,. With the investment of Rs 2,400 Cr, the project expected to take over next 5 years to complete.
The project would comprises 1,900 flats and 1,800 independent homes/villas. This will be the fourth project by the Supertech in Gurgaon.
Paymant has already been made for the same. However a debt of about Rs 500-700 crore has also been raised to meet the construction cost. rest amount will be funded through internal accruals and sales bookings.
Supertech has completed 33 million sq ft of real estate projects so far and is at present working on 90 million sq ft area under different projects. Besides Gurgaon and Noida/Greater Noida, Supertech has presence in Ghaziabad, Meerut, Moradabad, Haridwar, Rudrapur and Bengaluru. The tentative cost of the flats is Rs 4,400-4,750 per sq ft depending on the payment plan. The entire township, to be developed in phases, would be completed by 2020.