When most of the developers are focusing on luxury segment, NCR based realty firm Supertech is planning to build around 1976 flats in the affordable housing category in next four years ranging between Rs 12- 25 lakhs.
"The proposed project will be developed as per the terms and conditions of the policy prescribed by the Town & Country Planning Department of Haryana Government," said Supertech Chairman RK Arora.
“Basera” -- is located in sector 79 and 79B in Gurgaon. Out of a total of 1,976 flats, 95 percent would be allotted to public through a lucky draw and rest have been reserved as management quota.Asked about investments, Mohit Arora told The Pioneer it would be around Rs 210 crore which includes about Rs 60 crore land cost and all would be funded through internal accruals.
The applications from public will be invited from November 24 till December 24 and one has to submit 5 percent of total price along with the application form.
Giving details about the project, RK Arora said the size of the flats would be 404 sq ft, 546 sq ft and 592 sq ft carpet area. Nearly 1,750 flats would be of 546 sq ft area.
"For the benefit of the buyers, there will be no maintenance charge for 5 years and no escalation charges," Arora added.
The company will launch another affordable project at a cost of Rs 300-400 crore in Gurgaon soon under the same policy.