Unitech to Launch India’s Largest Township in Noida

July 5, 2007	(3 votes, average: 3.67 out of 5)  Loading ...
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Increasing competition in Indian property market may raise a question over changing valuations for realty players in future.

As DLF, a known name in Indian real estate, is preparing to make a debut on Dalal Street on Thursday, the Unitech, a strong competitor of DLF, is ready to launch India’s largest township in Noida on the same day.

The Unitech project will come over a large area of 340 acres on the Noida-Greater Noida Expressway. The Township will have an exclusive golf course and 80 skyscrapers, some of them featuring 50 storeys.

With the move, Unitech has surprised most connoisseurs as the project has been launched at a 50 per cent premium over the going rate in this area.

The Noida project is to launch at a rate of Rs 7,750 per sq ft. with no inaugural discount. Other developers such as Omaxe and Eldeco are selling at Rs 5,000 sq ft. Interestingly, the going rate in 2004 was Rs 1,700 per sq ft.

In 2006, Unitech outshone DLF by winning the land for Rs 1,583 crore. At that time, the company made headlines to have won the India’s largest land deal.

News Published Under:   Noida |