Supertech sharpens Rs.4,000-cr realty plans

In view of the fact that demand for affordable housing set to record sharp spurt especially after the granting of infrastructure status in the budget, the renowned real estate firm Supertech has recently set an astounding investment targets of Rs. 4,000-cr to develop low-cost housing units. In this connection, it took a decision to engage consultants to raise about Rs. 1,000-cr through external commercial borrowing (ECB) to fund the development of 40,000 affordable homes planned over the next four years, Chairman R K Arora said. He further added that the affordable housing has got a big boost in the budget this year and the company is changing building plans for its existing projects in Greater Noida, Yamuna Expressway, Gurgaon, Meerut, and Dehradun, to launch low-cost homes.