Arihant to invest ₹4,000 crore over 7 years to develop affordable houses
Mumbai-based Arihant Superstructure Ltd said it will continue its focus on affordable housing sector. The company said it plans to invest ₹4,000 crore in the next seven years to develop affordable housing in Mumbai and Jodhpur.
“We will continue to focus on affordable housing. This segment is showing buoyancy. We are developing close to 13 million sq feet over the next seven years,” said Ashok Chhajer, CMD.
He said sops like interest subsidy and lower rate of interests augur well for the affordable housing. He said that the company was focusing extensively on Rajasthan and MMR region as both these States have extensive housing needs. “Almost 16 per cent of the total urban housing units required by 2022 will come from Maharashtra and Rajasthan alone,” he said, adding the company is also looking at opportunities in other States.