Sikka Group, a Delhi-based realty developer, has raised around Rs 230 crore for three of its housing projects Sikka Karnam, Sikka Kaamna and Sikka Kimaantra – all located in Noida.
The company has collected the amount by taking loans from several banks and private equity firms. The total fund will be invested to speed up the construction of all three mentioned projects. The projects are situated in Sector 143 at Noida Expressway.
Sikka Karnam and Sikka Kaamna housing projects are spread across 10 acres and 12.5 acres of land with total units of around 1,247 and 1,710 respectively. Both the projects are planned to give delivery by end of this year. Sikka Kimaantra has a total of 364 housing units spread over 5 acres of land. The total saleable area will be about 45 lakh sq. ft. for 3,300 families to live.
“Partial disbursement of the funds has been done recently and the remaining installments would soon follow. We are also planning to raise funds for our other projects so that we can deliver them on time as well,” says Gurneet Singh Sikka, Director, Sikka Group.
Source: ET Realty