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Amrapali Adarsh Awas Yojna: 10,000 Affordable Homes for Govt. Employees at Noida Extension

December 6, 2015 | Last Modified: February 12, 2016 at 10:58 am

Amrapali Adarsh Awas Yojna:
On Friday, Amrapali Group a real estate firm has announced to construct 10,000 affordable houses in Noida Extension for government employees and the construction of these affordable houses would be done at the expanse of Rs. 2,000 crore. The project is named as Amrapali Adarsh Awas Yojna.

Complete details about Amrapali Adarsh Awas Yojna.

In the first phase, the company has launched 2,000 flats in the price range of Rs. 22-30 lakh and the company has tied up with property brokerage firm Investor Clinic for marketing of this project.

According to the statement of Anil Sharma, the CMD of Amrapali Group, the company is coming up with an affordable housing project for the serving and retired government employees. About 40 acres land has been set aside for this project in our 100 acres township in Noida Extension. The company would construct 10,000 apartments at a cost of Rs 2,000 crore.

The company has launched the first phase of Amrapali Adarsh Awas Yojna at the basic selling price of Rs. 2,280 per square feet. According to the source the price is lower than the current market price of this area. The flats in the project would be available in the size range of 975 square feet to 1,300 square feet.

The company has reduced the profitability and has also passed on some part of the historical appreciation in land prices, Sharma also added in his statement.

The officials of Amrapali Group said that the pre-cast technology and aluminum work would be used in this project and the project would be completed within 36 months with a grace period of six months.

On pricing strategy for the next phases of this project, the source said the rates could be slightly higher to offset any rise in construction cost.