NRI Real Estate and Property Investment in India
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Developers Announce New Real Estate Projects
Friday, June 15, 2007

Ansal Housing and Construction Ltd. have announced their latest township projects in emerging real estate cities - Karnal and Rewari, in Haryana, India, expecting a positive response from end-user investors. The two projects would be completed in 3-4 years, and fetch upto Rs.400 crore for the company.

Both projects entail investments in schools, hospitals, clubs and commercial properties. In Bangalore, Rajesh Exports Ltd will develop 5 selected properties on Mysore Road, Devanahalli and Chickpet.

A residential project on Mysore Road will be taken up on 4 acres, while commercial space of upto 45,000 sq. ft would be developed in Chickpet.

Of the 3 properties in Devanhalli, the largest measuring 10 acres would accommodate a mid-level housing project. Satra Properties Ltd. will develop a 20-storey residential tower, Satra Sky Heights, on Bandra-Turner Road, Mumbai .

Construction of the 3-5 BHK flats, duplexes and penthouses would start in July, and be ready for possession by December 2009. The aesthetically and intelligently designed project would be serviced by top-of-the-line amenities.

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