Shalimar Group to invest Rs 1,200 crore in Lucknow
Shalimar group is focusing to invest Rs 1,200 crore in its two housing projects in Lucknow. Mr. Khalid Masood, Director of Shalimar Group says that the two projects collectively spread over 275 acres. The company also announced the new project Garden Bay, which spread over 75 acres on Sitapur-Hardoi Road and costing around Rs 200 crore.
He also says that the project consisting of 1,500 housing units, has been designed by a Dubai base organization and this project take 4 years to complete.
In mid of next financial year, the Shalimar group is going to launch an integrated township project in Gomti Nagar area, which spread over 200 acres and requires investment of Rs 1,000 crore.
He also says that both these projects are at the marginal distance of proposed Lucknow Metro Rail project route. He claims that while Lucknow real estate market witnessing growth of 20 to 30 percent, Metro will further increase real estate segment, mainly in region which comes in its routes and terminals.
The Lucknow based Shalimar Group has created a milestone for itself by giving best housing and commercial properties in the posh areas of the city.
Mr. Masood says that the group is extending its wings to other areas as well and also working on the projects in the National Capital Region (NCR).
Source: The Business Standard
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