Puranik Builders plans three new residential projects in 2012

Mumbai-based real estate company has announced plans to launch three new residential projects within the first two quarters of 2012. These projects will be launched in Thane, Pune and Lonavala, respectively. The company plans to invest Rs 700 crore in these projects over a span of three years. These funds will be generated through a mix of internal accruals and bank loans. Elaborating on the Group's expansion plans for the year 2012, Shailesh Puranik, managing director, Puranik Builders Pvt Ltd, said, “Our Group plans to launch three new residential projects this year at Thane, Pune and Lonavala. While the overall project value of these will be in the tune of Rs 1,000 crore, we will invest Rs 700 in the next three years.” Sprawling over 1 million sq ft. area, the 'Rumah Bali' project at Thane is a residential project comprising 8-9 Towers of 30 storeys each. There will be more than 1,500 units of1/2/3 and 4 BHK priced at Rs 6,000 per sq ft. The second project at Pune -- Sereno Espanola -- will be spread over 40 acres of area and consist of more than 2,000 units of 1 / 2 and BHK and Villas of 4 BHK. The units will be priced at Rs 4,500 per sq. ft. The third project is a high-end villa project which is spread over 10 acres and will consist of 3 and 4 BHK villas priced between Rs 1-1.5 crore. Optimistic about the Real Estate scenario in 2012, Shailesh further added, “The new launches will happen within the first two quarters of this year and we hope to do good sales.” The company also has 500 acres of land bank in Pune, Sarjat, Murbad and Dombivali and it plans to launch new projects here in the next 2-3 years.

source: http://www.realtyplusmag.com/rpnewsletter/fullstory.asp?news_id=17949&cat_id=1