To Start Noida Project Supertech Raised Rs 278 Crore From Housing Finance

By Admin November 26, 2014 market-trends
To Start Noida Project Supertech Raised Rs 278 Crore From Housing Finance
Supertech

One of the well-known realty firm Supertech has raised Rs  275 crore from Housing finance for construction of its on  going project located in Noida. The company is developing  almost 12 projects and mostly are Residential in Noida   and Greater Noida.

 Money has been raised from financing construction in all  our Noida projects, said Supertech director Mohit Arora. 

All the fund raised in the form of debt and could raise  further amount form Indiabulls Housing Finance, added by  Arora.

In August current year, Supertech has announced that it  had raised Rs 400 crore from the private firm Xander to finance its upcoming township and Housing Projects in Gurgaon.

Supertech who has a great presence in other cities like Greater Noida, Noida, Ghaziabad, etc. is looking to expand his footprints in other more cities so that they offer the best projects to their customers.

“Stating that Real Estate Sector is facing the slowdown in demand and developers facing liquidity issues, and we don’t want to stop our construction work because of the slowdown, so that is the reason we raised the funds,” added by Supertech director.

The company has entered in Gurgaon property market and acquired 400 acres of land and currently got 140 acres land at Sohna and Gurgaon from Parsvnath of Rs 665 crore.

Moreover, last week, Supertech announced a low cost housing in Gurgaon with almost 2000 units to buyers with the price range of Rs 13-20 lakh with the lucky draw.

The Scheme open on 24 Nov till 24th of December based on Haryana government’s affordable policy unveiled last year. .

Besides this, the company has launched his luxury residential project in Bangalore. Also, Supertech is fighting a case in the Supreme Court where it has challenged the Allahbad High Court to pull down the company’s two 40 storey towers, having around 857 flats, in a housing project at Noida.

About the Author - Admin
Admin
Baldev Singh writes the content on real-estate from several years and he is one of the few writers who provide the thought-provoking content on best properties deals.
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