Realty firm CHD Developers plans to invest around Rs 350 crore in developing a new 10-acre service apartment project in Sohna, Gurgaon, under a JV model.
"We have applied for the environmental clearence. As and when we receive it, we will start the construction. We aim to deliver the project in four years from now," said Gaurav Mittal, managing director, CHD Developers.
The project located in Sector 34, Sohna, will offer a total of 1,370 one bedroom serviced apartments in the first phase of CHD Resortico at a base selling price of Rs 4,800-5,000 per sq ft.
The Delhi-based company is also exploring opportunities to foray into other markets and is in regular talks with consultancies like McKinsey & Company for the same. "Land and territory are no boundations for us. We are looking to enter a market which gives us and our investors value for money," Mittal added.
The company now has presence in two markets of Karnal and Gurgaon. It currently has four other projects under execution apart from the current launch -- Avenue 71, 106 Golf Avenue and CHD Vann in Gurgaon and CHD City in Karnal.
Source: IndiaTimes
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