NOIDA The slump in the real estate sector has forced Unitech to change strategy for its ultra-luxurious project Unitech Grande. Targetted at high-net worth individuals (HNIs) and non-resident Indians (NRIs), the realty major is now turning the 357-acre project on Noida Expressway into an affordable one.
Sources said the developer managed only 300 investors in its original project, with plans to build around 5,000 luxurious flats.
At the launch of the original project, Unitech MD Sanjay Chandra had announced an investment of Rs 6000 crore for its development. Asked about the change in the project, Chandra told Newsline, The company has taken the decision to develop a township in the proposed project due to compulsions of the prevailing market conditions.
More : expressindia.com
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