Top realty firm Ambience said in his next creation it will invest around Rs 1,950 crore over four years to build up two ultimate Home Projects in Gurgaon and Noida. The Delhi-based firm will serve out over 1030 apartments in these two above mentioned luxury and comfortable projects.
Also Ambience has powerful trace in Delhi and Gurgaon Real Estate Market. And now it is developing roughly 150 acres projects that packed with best homes “Ambience Island” and “Leela Ambience” hotel with over 400 keys and an ample and well planned shopping mall. Apart of this, in Delhi it already has a spectacular project name by “Kempinski Ambience” which is actually a hotel that have around 480 keys and a big shopping complex at Vasant Kunj.
“We have an immense involvement in Gurgaon in terms of real estate and this is our initial step in the Noida Market,” Ambience group Chairman Raj Singh Gehlot told in some report.
Approximately Rs 1,950 will be needed for the expansion of both Noida and Gurgaon home project and it would be funded through some loans from different banks and HDFC Ltd and internal accruals.
Gehlot, also sum up in the year 2010-11, we had elevated Rs 170 crore in the form of equity in Gurgaon project from private equity firm Indiareit.
Ambience Group had also intended Rs 1,300 crore Initial public offer (IPO) but had to jump down the plan because of the lethargic market.
When asked, the company would perk up IPO, concern person said, “we have no such plans at present”.
Aman Gehlot adding more about the project, the company will build 280 flats in the 3.5 acre Noida project, at a cost of Rs 456 crore “Ambience Tiventon”.
On the other hand, in Gurgaon they have roughly 750 flats and would be constructed enlarge over 14.5 acres and would be around Rs 1,480 crore cost.
Ambience has fixed its selling charge at Rs 9,000 per sq ft for both above talk about residential projects and the price tag will be in the range of Rs 2 crore to Rs 4.5 crore.
Currently, Ambience firm has about 1,000 acres of land bank comprising 350 acre in Panipat where they will establish big township.
