Showing posts from July, 2018

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

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…