Kolkata based Jain Group has announced the launch of affordable housing projects across Kolkata, Durgapur, Siliguri in Bengal and Bhubhaneshwar in Odisha. The projects cover an area of 5 million square feet at a proposed investment of Rs. 2000 crores.
The announcement follows in the wake of the launch of a residential project “Dream Eco City” in Durgapur in West Bengal. Two more projects are planned for this city, one by end of this year and the other by the middle of 2014.
Mr Rishi Jain, Executive Director of Jain Group told reporters that the first phase of the project comprising 800 flats at a cost of Rs. 400 crores is underway and should be ready in four years time. Uniquely designed, the innovative project uses nature as an inspiration and provides harmony of environment and buildings. A five star hotel is also proposed inside the project area, with international tie up. Jain Group is famously associated with Best Western, the worlds largest hotel chain and it plans about 15 hotels throughout India by the end of 2015.
A project by the group in Siliguri costing about Rs. 200 crores is also on the cards with possession expected to be given to buyers by the end of this year.
Source: AbodesIndia