Sahara makes hard-to-believe claim of launching 68 projects
Sahara Infrastructure and Housing, of late being in the news for market regulator Securities and Exchange Board of India’s (SEBI) rap for mopping up Rs 17,400 crore through debentures and delayed project completion has now announced another 68 projects within FY 2012 – 13 across India. A statement issued by Sahara claims to introduce 10 lifestyle township projects, of which 9 will be self sufficient integrated townships under the brand name of ‘Sahara City Homes’ and 1 under the brand name of ‘Sahara Grace’.
Out of remaining 58 projects CMD of the Sahara Group, Subrata Roy Sahara announced to have 21 township projects and 37 projects in the affordable housing segment. With this, Sahara claims to be entering the Affordable Housing Segment under a new brand name promises to address the demand-supply gap in the mass housing segment. This new brand will make housing affordable to people by offering residential units in the price range of Rs. 5-15 lacs, across 350+ cities of India.
Subrata Roy Sahara said in the statement, “India has always been an attraction to the world for its magnificent architecture and vibrant lifestyle. While the magnificence of the ancient marvels of architecture stand tall for the world to see, the standard of living space across the nation has failed to match the change of time and the world standards, primarily due to lack of adequate up-gradation of support infrastructure; load of population and fractured & sporadic planning. It is my earnest desire to provide a lifestyle to the citizens of our beloved nation which matches the world’s best standards. We have vowed to develop comprehensive real estate projects offering quality lifestyle to people across the board covering not just Tier I cities but also Tier II, III and even small towns, in congruence to the scales of income of people.”
He further claimed, “In our endeavour, we have witnessed many ups and downs in the industry and faced many challenges, many due to the magnitude of our vision; but I am happy that we have proved at all steps that our mission is undeterred. These 10 townships along with the ongoing 8 township projects and forthcoming 58 projects to be added in January 2013, enforce our commitment and I am sure that these projects will be the jewels of quality lifestyle”.
Spread on a total area of 900 acres, the 10 projects will offer 25 thousand residential units along with a world class range of amenities and facilities. The Project Management of these 10 projects will be done by Sahara Turner Constructions Limited. The possessions of residential units is planned to start in 2.5 years with project completion in 5 years.
Out of the 10 projects, the 9 ‘Sahara City Homes’ integrated townships are coming up in the cities of Pune, Aurangabad, Jodhpur, Gwalior, Bareilly, Solapur, Porbandar, Katni, Kashipur while 1 ‘Sahara Grace’ brand of premium residential apartment cluster is coming up in Cuttak – Bhubaneshwar. These 10 cities will span across 7 States of India. ‘Sahara City Homes’ integrated townships are currently being developed in 7 cities (Lucknow, Jaipur, Indore, Nagpur, Ahmedabad, Satna and Coimbatore). Sahara Grace brand of residential apartment clusters has been a major success in Gurgaon and Lucknow where it has been completed and sold out. ‘Sahara Grace’ project is ongoing in Kochi and has now been introduced to twin city of Cuttak – Bhubaneswar.