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News & Views on Indian Real Estate

Thursday, August 21, 2008

Matheran Realty to come up with Low-Cost Houses

Mumbai-based developer, Matheran Realty has come up with an integrated township at Karjat, 80 kms from Mumbai, where a basic one-room flat would cost as little as Rs 3 lakh. The cost of construction, at Rs 999 per sq ft, is a fraction of the Rs 2, 500-3,500 prevailing in other parts of the city as well as other major metros. At this rate, the bigger flats in the township, in the size of 500 sq ft and 700 sq ft, are priced at Rs 5 lakh and Rs 7 lakh respectively. The booking for the project has already been started and 3, 000 flats will be handed over in the first phase between January and June 2009. The name of the project is Tanaji Mulsure city (TMC).