Chintels India to invest 1800cr in realty projects

September 14, 2008	(Be the first to rate this story!)  Loading ...
Print This Story   Email This Story Subscribe Newsletter

Real estate developer Chintels India is all set to invest up to Rs 1,800 crore in the next six years in developing properties in the northern parts of the country as it aims to achieve Rs 4,000-crore revenue by 2014. “Seeing the potential in North India, we have decided to invest up to Rs 1,800 crore in the next six years, which will be put in residential, office, retail and SEZ projects,” Chintels India Joint Managing Director Prashant Solomon said.

The company has identified five commercial projects in Gurgaon and few farm houses in Delhi, which would be developed in this period, he added. The estimated construction cost for the five projects is Rs 915 crore, which would be funded through a mix of equity and debt at a ratio of 2:3.The Company is also talking to a few global private equity funds to raise capital for the commercial projects, without. Besides, Chintels is also planning to develop farm houses across the National Capital in the next few years.

News Published Under:   Real Estate Developers |

Comments