Prateek Group to invest Rs 2,000 cr to build luxury housing project in Ghaziabad
Prateek Group will invest over Rs 2,000 crore to develop a luxury housing project at Siddharth Vihar in Ghaziabad as part of its expansion plan amid strong consumer demand. The company on Friday announced launch of its new project 'Prateek Grand Begonia', spanning around 15 acre and comprising 2,400 flats.
«We have already developed and delivered 4,500 flats in Siddharth Vihar. We are now starting a new housing project which is suitable for both end users and investors,» Prateek Group CMD Prashant Tiwari told reporters here.
The company will sell 1,200 flats in the first phase. It will take only 30 per cent of the cost from customers at the time of booking and the remaining 70 per cent at the time of possession.
Asked about project cost, Tiwari said the company will invest over Rs 2,000 crore to build this new project.
The company has started the construction work and will deliver this project in five years.
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