Soham Gr plans to invest Rs 10.0b in affordable housing

FE Team | Published: April 19, 2011 00:00:00 | Updated: February 01, 2018 00:00:00

MUMBAI, April 18 (PTI): Riding high on increasing demand for affordable houses, real estate developer Soham Group plans to invest around Rs 10.0-billion over the next 2-3 years for its future projects, a top company official said. "A paradigm shift has been observed in the real estate market over the last few years. Apart from luxury homes, there has been a great demand for affordable houses. Considering this an opportunity for players like us, we have planned to invest around Rs 10.0-billion over the next 2-3 years," Soham Group's Chairman, Chaitanya Parekh, told the reporter here. The company has lined up 25 projects to be developed in the coming years, which will be primarily in Mumbai Metropolitan Region including Thane. "At present, we are focusing on developing projects in the Mumbai Metropolitan Region. However, our associate companies including Pruksa Luxora and Luxora Properties will be developing projects in other parts of Maharashtra," he said. Soham has formed a joint venture with Pruksa Real Estate, a realty major with significant presence in the property market of Thailand, to develop around five township projects in Maharashtra in its first round of operations.