Mantri Realty to launch 3 housing projects for Rs 750 cr
Bangalore : Real estate developer, Mantri Realty is to develop three new projects in Maharashtra, Karnataka and Pune with an investment up to Rs 750 crore. The projects will be launched next year.
Sunil Mantri, the chairman of the company said that the Pune project will be a luxury housing project with 2 and 3 BHK apartments offered for Rs 1 Crore. This project will be launched by next March and is about 8 lakh square feet area, houses around 350 flats. The total investment for Pune project is Rs 400 crore.
The company will launch luxury housing and commercial project in Solapur, Maharashtra by next year. This project will have 100 units and the investment in construction will be around Rs 100 crore.
Mantri is to launch a group housing project by the middle of next year in Bangalore, which will be of 100 units and around Rs 250 crore will be the construction charge.
The total investment will be financed by internal accruals, debt and selling stakes in the projects to private equity firms as claimed by the company.
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