The Magic Hills project in Panvel, promoted by Garnet Construction and marketed by the Sternon Group of Dubai has elicited enthusiastic response from NRIs settled in the Gulf ever since bookings opened a month ago.

Panvel is attracting the attention of real estate investors as the Greenfield airport project gathers steam.

The Sternon group has reported quick bookings for the villas and row houses which would be part of an integrated residential and commercial township.

Located on the Mumbai-Pune Expressway, Gulf NRIs are drawn to the promise of quality construction, strategic location, and the conveniences the project offers in an unpolluted, congestion-free environment.

A Rs.1200 crore project, Magic Hills will be financed to the extent of USD 60 million through Foreign Currency Convertible Bonds (FCCBs), and USD 3-4 million by the Sternon Group.

Around 3,500 to 5000 residential units are being planned, and the 1st phase would be completed by 2008.

Moving on from the Gulf, Garnet and Sternon will move to the UK, the US and rest of West Asia to promote the mega project to NRI investments.

• Disclaimer
• Contact Us