Sunteck Realty plans new vertical
Realty developer Sunteck Realty, known for premium residential projects, is forming a new vertical to explore the option of value housing in the backdrop of government’s recent thrust on affordable housing.
The developer is planning to invest up to Rs 1,000 crore over the next two years to develop these projects, said a top company official.
“We will continue to focus on premium housing in Mumbai. For projects under our new value housing division, we will be looking at tier II locations that are closer to Mumbai. Given the tax incentives and other benefits offered by the government, home buyers in this category will also get up to 10% benefit on pricing,” said Kamal Khetan, CMD, Sunteck Realty.