Migsun unveils ₹4,500-cr plan to resume stalled realty projects

Migsun unveils plan to resume stalled realty projects

Real estate building major Migsun has decided to invest ₹4,500 crore to kick start the construction work on the stalled real estate projects. It is currently negotiating to acquire three stress projects in NCR with the development potential of 30 million sq ft. Managing Director, Yash Miglani, informed that the company will form a JV with the existing owner and will build the project on DM model. In the residential segment, it will take up township and group housing projects. The group is in the final stages of signing the deal with three different developers. Besides, the group is also in talks to overtake another residential project through the NCLT and plans to resurrect stalled projects might not have a major effect on new demand, but it will provide relief to aggrieved home buyers who have been waiting for their asset with bated breath. The move will help in enhancing overall consumer sentiment as well as fix the supply side of the real estate market. The company is executing 16 projects, both residential and commercial, in various parts of Delhi and its suburbs.