Supertech offers Affordable Housing Scheme in Gurgaon
Realty development firm Supertech announced its plans of developing an affordable housing project in Gurgaon. It shall offer units in a price range of Rs.13-20 lakhs and a total investment worth Rs.350 crore will be made for the development of the project.
Supertech is a Noida based realty developer that has over 90 million square feet presently under construction. It is well-known for its projects in Noida, Greater Noida, Haridwar, Moradabad, Meerut, Gurgaon and NCR.
Development Plans:
It has been calculated that the 12 acre housing project has the potential for nearly 2000 flats. The construction of these units will be done under the Haryana Government Policy of offering affordable housing, which was announced in August 2013.
The affordable housing schemes will be on offer for the Sector 79 and 79B of Gurgaon, a project which aims to offer 1976 flats.
Supertech Chairman, R K Arora stated that the allotment of 95 per cent of these flats on offer will be done through a lucky draw scheme. The remaining 5 per cent of these flats would be reserved for the management quota.
Applications for the affordable housing development scheme were launched on November 24th and will last for a month till December 24th.
Arora also added that an estimated Rs.350 crore would be funded through internal accruals for the project. Supertech plans to complete the project in the course of the next four years.
Project Details:
Several details about the project were disclosed by Chairman Arora mentioning the flat sizes ranging from 404 sq. ft., 546 sq. ft. and 592 sq. ft. carpet area. Nearly 1,750 flats would be of 546 sq. ft. area.
The flat prices which have been quoted at a range of Rs.12.87 lakh and Rs.20.28 lakh will be inclusive of all internal costs.
Construction of this housing project which will span for 4 years will be done using pre-cast technology.
Changes from the Policy:
The Haryana Government Policy which forms the basis for the development of these affordable residential flats have out a higher FAR (Floor area ratio) to the developers which was 2.5 as opposed to the regular figure being 1.75.
Density norms have also been eased by the developers while the EDC (External Development Charge) has been waived off.
Source: NDTV Profit
Affordable housing schemes, Housing project in Gurgaon, Projects in Noida, Realty development firm Supertech
