Supertech sharpens ₹800 cr realty plans

Real estate major, Supertech will invest about ₹800 crore this fiscal on the construction of various projects to achieve targeted delivery of 10,000 flats. The NCR-based firm is also eyeing its sales booking to rise to ₹3,000 crore during 2018-19 fiscal on the back of improved demand especially from ready-to-move-in apartments, MD Mohit Arora said, reiterating that the company has delivered 40,000 units in the last 30 years and is currently working on 60,000 flats across 35 projects, mostly in Noida, Greater Noida and Gurugram. It has already started delivery in two 44-storey towers of our 'Supernova' project at Noida. This project has total five towers and is being developed at an investment of around ₹5,500 crore. The company has built 575 units in these two towers, of which 100 units have been handed over and rest would be given in the next three months. A commercial tower with 10 lakh sq.ft of leasable area would be completed by end of this year. The 17.5 acre project will also have 80-storey tower comprising 600 studio apartments and 250 flats and another tower having 250-rooms hotel and 80 Armani-branded residences and that about 10 lakh sq.ft of retail area would also come up in this project.