Raheja
Developers today said it will invest about Rs 300 crore in a group
housing project at Dharuhera in Haryana over the next 4-5 years.
The
project, Oma, will house 640 apartments and will be one of the tallest
buildings in the area with 40 storeys, the company claimed. ”This is a
very important project for us that will have all the luxury elements. We
have already started construction and will invest about Rs 300 crore to
develop it,” Raheja Developers Chairman and MD Navin M Raheja said on
the sidelines of an Assocham event on green buildings here.
The
company will take slightly longer duration to complete the project than
in usual cases due to its height and will hand over the flats in the
next 4-5 years, he added.
“We
are targeting foreign nationals working in different MNCs, especially
those in the auto firms, located in the industrial areas nearby. We are
offering a wide range of flats from 1-BHK to 6-BHK,” Raheja said, adding
the total number of flats will be 640, including service apartments.
The
sizes of the flats will vary between 550 sq ft and 4,500 sq ft. The
company will offer the apartments at a price ranging from Rs 17.5 lakh
to over Rs 1 crore, he said. When asked about source of funding, he
said it will primarily be internal accruals.
Elaborating
the project, Raheja said ‘Oma’ will offer a host of facilities of
“global standards” to the residents such as international restaurants,
spas and swimming pools. Last year, Raheja Developers had announced its
plans to build the tallest housing project ‘Raheja Phoenix’, comprising a
54-story tower with a helipad, in the heart of the National Capital for
about Rs 300 crore.
At
present, Dr Shyama Prasad Mukherjee Civic Centre that houses the
headquarter of Municipal Corporation of Delhi is the tallest building in
Delhi that has 28 storeys with a height of 112 metres.
The
company had also formed a joint venture with Dubai-based Arabtec
Construction to build real estateprojects in India and awarded contracts
worth Rs 1,020 crore to the JV firm for three housing projects.
Arabtec
Construction, which built the world’s tallest tower Burj Khalifa in
Dubai, holds 63 per cent in the JV ‘Arabtec Raheja’ and the remaining 37
per cent lies with Raheja Developers. The JV will develop the housing
project ‘Raheja Revanta’ with 56 storeys (195 metre) in Gurgaon
comprising 1,200 units. It will later build the ‘Raheja Phoenix’.
The height clearances for both the building has been cleared by the Director General Civil Aviation.
(http://articles.economictimes.indiatimes.com/2012-03-27/news/31245211_1_housing-project-tallest-tower-burj-khalifa)