Sahara Grace to build Rs 300 cr residential complex

Kochi, Apr 3 (UNI) In a bid to spread its wings in the realty market in the South, Sahara Grace today announced a Rs 300 crore residential complex project in the city.

Addressing a press meet here, Company Sales Head Sundar Lal said ''the project, to be completed in four years, offers residential and coomercial facilities spread on 14.72 acre and proposes to house 728 residential units.'' The apartments, to be furnished in European style, would be in the price range of Rs 35 lakh to Rs 80 lakh and have a mix of two to four bedroom apartments, three and four bedroom duplex apartments and penthouses.

Mr Lal said the company was planning to launch more residential and townships projects in various cities across south India.

When asked whether the realty sector was facing any stagnation, Mr Lal said '' presently the industry is not what it used to be two to three years before and now there is a correction, which could augur well for the industry.'' He said investing in real estate was the safest bet compared to other investments as there was an assured rate of return in due course of time.

The company had designed the proposed project at one level higher than the applicable seismic zone as per the specifications of Bureau of Indian Standards.

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