Realty firm SARE homes launched its new housing project in Gurgaon on Wednesday. The FDI-funded company will invest about Rs250 crore to develop the project over a period of three years.
Speaking at the launch, SARE Homes Managing Director, Vineet Relia said, ‘‘We are coming up with a new sport-centric housing project in Gurgaon spread over 17 acres where we will be developing about 330 housing units.”
The firm also announced an interest subvention scheme where the buyers need to pay only 10 per cent booking amount and rest on possession.
The Olympia housing project is located in the New Gurgaon area, close to where Cyber City II is coming up with easy access to NH-8 and the Dwarka Expressway. SARE Homes is aiming for possession after a period of 36-40 months. It claims that since the project is aimed primarily at families with young children, the developers have additionally taken into consideration certain extra factors such as limiting surface movement of vehicles by making all parking underground and schools at close distances. Moreover, the project conforms to Seismic Zone 5 specifications, one level above that specified for Gurgaon.
The Gurgaon-based firm is developing seven townships across the country covering over 30 million sq ft of area. Apart from Gurgaon, SARE Homes has presence in Chennai, Ghaziabad, Amritsar, Indore and New Mumbai. Its assets in India are valued at Rs4,100 crore.