Saya group to invest Rs 400 cr in housing project

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NEW DELHI: Realty firm Saya group plans to invest around Rs 400 crore to develop a new housing project at Ghaziabad in Uttar Pradesh. The company will develop about 650 housing units, having a saleable area of nearly one million sq ft, in this project, located at Indirapuram.

“We are coming up with a new project in Indirapuram. There is great demand for housing in this area as there is not much new supply,” Saya group CMD Vikas Bhasin said.

It is expects to launch sales and start construction of this project in next 2-3 months.

The company would launch this project after getting it registered with state regulatory authority, which has become mandatory under the new real estate law, RERA.

Ghaziabad-based Saya group has so far completed two housing projects in Ghaziabad and is developing a housing project ‘Saya Gold Avenue’ in Indirapuram comprising 1,600 units with an investment of about Rs 1,200 crore. Saya group is also looking at expanding business through entry into new segments and new locations.

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