News & Views on Indian Real Estate

Thursday, September 11, 2008

Sobha Developers Announce The Launch Of A Residential Project

Sobha Developers has launched the 'Sobha Scarlet' project in Mysore. The project will be developed in 14.2 acres of land and will have 83 villas. It will also have amenities like club house, spa, tennis court, swimming pool, gym, squash court, multi purpose hall, cards and carom room, library and other facilities. The company has revealed its plans to raise Rs 350 crores through a rights issue, which it will use for general corporate purposes, including working capital, acquiring land and other needs.