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Migsun to Invest Rs. 500 crore on housing project in Greater Noida

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Migsun to invest Rs. 500 crore on housing project in Greater Noida
Realty firm Migsun plans to invest about ₹500 crore to develop an affordable housing project in Greater Noida. The company will develop 1250 flats in this 5-acre project. The apartments are priced in a range of Rs 16-26 lakh. “We have launched a project Migsun Vilaasa in Greater Noida recently at a very competitive price. We have already sold about 900 flats,” Migsun MD Yash Miglani said. When asked about the investment, he said it would be around ₹500 crore including land cost. The investment would be funded through internal accruals and advances from customers. The project would be completed in the next 2-3 years. Affordable housing has gained momentum on the back of infrastructure status and interest subsidy offered by the government. The GST rate has also been lowered at 8% for affordable housing projects, leading to higher demand and supply in this segment. In April this year, Migsun had announced a low cost hous…