The first phase of the project is spread over 4.5 acre and entails 1,200 apartments for which the developer has received around 1,500 Expression of Interests from homebuyers. The project has already achieved financial closure with financial institutions including YES Bank.
“We expect to clock revenue of Rs 2,000 crore from the first phase of this large layout project as the response has been robust. Post RERA implementation, homebuyers’ confidence level has gone up with regards to delivery of projects,” said Gaurav Gupta, Director, Omkar Realtors & Developers.
The project, scheduled to be delivered by 2022, consists of 1, 2 and 3 bedroom apartments with price ranging from Rs 87 lakh to Rs 1.6 crore onwards with configuration of 355 sq ft to 710 sq ft carpet area.
Of this, 20% inventory is of one-bedroom apartments and 40% each of two and three bedroom. Of the total Expression of Interests received so far, around 35% is for one-bedroom apartments, he added.