Omaxe to invest Rs 170 cr in Mathura township; gets green nod
Realty firm Omaxe has received green nod for expansion of its township in Mathura, Uttar Pradesh at an investment of Rs 170 crore. The national capital-based company is developing an ‘Omaxe Eternity township’ spread over 58 acres in Mathura. Now, the company plans to expand the size of the township by 37.26 acres taking the total size of the township to Rs 95.10 acres. The built up area for the existing plus proposed expansion project will be 2.83 lakh square metre.
Omaxe had sought the environment clearance for the expansion as the build up area is more than 1.5 lakh sq metre even as the expansion is less than 50 hectare. In a letter issued to the company, the Union Environment Ministry has given the environment clearance for the expansion of the ‘Omaxe Eternity township’ with some conditions. As per the proposal, the company plans to develop 1,070 additional units, taking the total units to 3,784 in the entire township.
The cost of the expansion is estimated to be Rs 170 crore. The project will create employment for 700 people. Omaxe is present in eight states across 27 cities. It has diversified portfolio that includes integrated townships, hi-tech townships, group housing, shopping malls, office spaces and hotel. The company has so far delivered over 100 million sq feet of real estate and construction contracts. It is currently developing 39 real estate projects, of which 13 are group housing, 16 townships, and 10 commercial projects.