Nahar Group is likely to invest Rs 150 crore in the current fiscal to develop various residential projects in Mumbai.
The planned capex is part of the Rs 2,000 crore investment that the group has earmarked till 2011 for its residential projects. Total funding is expected to come through internal accruals. With a landbank of 100 acre spread across Powai and Mulund in Mumbai, the group aims to focus on residential projects catering to the higher middle-class and corporates.
Currently, the group is developing four housing projects near Powai named Yarrow Yucca Winca, Arum Alamanda, Tilia-Tulipia and Miradillis-Mimosa. Besides, it is also developing a 40 tower residential complex in Mulund called Sarvoday Heights at an investment of Rs 100 crore.
Source : ProjectsToday
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