05 February 2009
Akruti To Focus On Affordable Home Projects
Mumbai-based developer, Akruti City, which was mainly into development of hospitality, retail and township projects, has decided to shift its focus to affordable homes. Under the brand name, 'Just Perfect Homes', the developer will develop homes priced at Rs 22-32 lakh. These affordable residential projects will be completed in 2-3 years. In the first phase, the company is developing three projects, one each in Mira Road, Pokhran Road I in Thane, and Kondhwa in Pune. It will launch the Andheri and Sion projects after three months. A capital expenditure of Rs 1,500 crore has been earmarked for the projects. Mr. Hemant Shah, chief MD, said the company is modifying plots to give maximum affordable housing, "As We are holding our plans in other verticals and focusing instead on residential units"
7 Jan 2009 DNA Money