Realty firm Sobha Developers has decided to venture into the Hyderabad and Delhi residential property market, for which it has entered into a joint development agreement with local landlords to build high-end apartment on an area of 1.5 mn sq ft in both the cities. The company envisages demand for ₹50 lakh to ₹2 crore housing units. JC Sharma, vice chairman and MD of Sobha Developers said that the Hyderabad (Somajiguda) project will have 270 units of above 1850 sqft, and the Delhi (Badarpur) project will have 406 units of over 2150 sq ft. The firm also plans to launch over 10 mn sq ft of residential projects under the affordable segment. The total investment will be about ₹4,500 crore including debt and equity over the next five years. Sobha has also increased its focus on the mid-income homes apart from launching more commercial and retail projects.
