Supertech launches a luxury project in Bangalore
With an eye on NRI investors, Supertech plans to launch its maiden venture in Bangalore. The project will cost around Rs 100 crores and will have 500 apartments at a price of Rs 1 crore and above.
They have already finalised the land and the construction will soon take place. The company may spread its business and launch projects in cities like Chennai and Hyderabad based on the response to the Bangalore project.
In south, there has been demand for properties from non- resident Indians (NRI’s) in US, West Asia and other countries. Supertech has international marketing and sales operations overseas.
The company is planning to deliver 20 million square feet of residential area in 2013. Supertech has around 34 projects in hand and the focus will be on deliveries through 2013.
Supertech is targeting to deliver 70 million sq. ft in the next five years. Currently, the company primarily has projects in Rudrapur, Delhi-National Capital Region, Moradabad, Haridwar and Meerut.
The realtor is also in talks with global retail firms such as IKEA, Walmart Stores and Metro Cash and Carry to give them space in their upcoming projects on the Yamuna Expressway, near Delhi.
Supertech Chairman and Managing director is hopeful that the real estate market would overcome the slowdown this year. Supertech has already converted more than 33 million sq. ft. area of residential and commercial entity into architectural landmarks. Its various projects like residential and commercial townships, shopping malls, hotels and IT Parks have either completed or about to completed.
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