Sobha JV to build township in NCR

Sobha JV to build township in NCR

NDTV Correspondent

Wednesday, October 3, 2007 (New Delhi):

Bangalore-based Sobha Developers will develop a township project in Haryana with an investment of Rs 2,000 crore along with real estate firm QVC Realty and Chintels India.

The Gurgaon-based township, undertaken as a part of joint development agreement, would spread over 192 acres, consisting of single-family homes, apartments, commercial, retail and office space.

The project would spread for more than 6.5 million sq ft and is located in sector 106-109. This project is an addition to the list of integrated township projects already launched by Sobha in Kochi and Thrissur.

The integrated township would be strategically located in sectors 106- 109 and is connected to Delhi and Gurgaon by two proposed sector roads. Delhi Metro under Phase III will further connect the site.

"With this, Sobha would establish its footprint in the National Capital Region and will continue to enter new regions," said JC Sharma, MD, Sobha Developers.

Despite the development, the stock at Rs 884 levels slipped marginally into the red in late noon deals. It is trading at Rs 884 levels, down 0.8 per cent.