Published & Updated as on - 2010-02-18

Realty firm Supertech today said it would invest Rs 600 crore in developing an eco-friendly housing project in Noida.

The Noida-based company would build 1,700 units in this project, which is spread over 12.6 acre located at Sector 137 in Noida.

"It will be an environment friendly project, including material used in construction," Supertech Director Mohit Arora said.

Asked about investment to develop this project, he said it will be Rs 600 crore, including land cost.

The investment would be funded through internal accruals and advances from customers, he added.

He said the company would sell apartments at a price ranging between Rs 22 lakh and Rs 1 crore. The construction work would start next month and the project would be completed in 30 months.

"The main idea is to build zero carbon emission and eco-centric development project by using special generators, machineries and ecological sanitation," he said.

Supertech is currently developing 10 projects in various parts of the country, including national capital region, Meerut and Moradabad. The company has delivered 10,000 apartments so far.

Source: Business Standard 14/2/10