Leighton India Contractors has won a Rs 500 crore worth contract of the luxury housing project from Vipul Group. The fund will be arranged through internal accruals and loans from PNB Housing.
Spread over 20 acres of land, the new project Arohan is set to develop a total 370 units in 1 million sq. ft. built-up area in its first phase. The project is scheduled to be completed in three phases with the construction of 2.5 million sq. ft. of residential and 0.5 million sq. ft. of commercial property. The 30 per cent area of this project has already been sold.
Vipul Group has completed 8 million sq. ft. residential and 4.5 million sq. ft. commercial projects and another 3 million sq. ft. is under construction which is most likely to be built by the end of this year.
Source: ET Realty