Sunteck realty plans Rs. 1,000-cr projects

In the backdrop of government thrust on affordable housing, real estate developer, Sunteck Realty is forming a new vertical to explore the option of building value housing projects. On this score, the property developer has earmarked a staggering sum of Rs. 1,000-cr to be invested in the next two years and these projects are located in areas like Thane, Kalyan, and Navi Mumbai, said CMD, Kamal Khetan, adding that the new vertical will focus on developing projects qualifying for tax benefits and other incentives offered in the Budget 2016-17. He further added that the builder will continue to focus on premium housing in Mumbai and also in tier II locations that are closer to metropolitan city. Given the tax incentives and other benefits offered by the government, home buyers in this category will also get up to 10% benefit on pricing.