Emaar India, the Indian subsidiary of the Dubai-based real estate firm, Emaar Properties, has announced to deliver 10, 000 housing units by the end of 2019, as per the latest reports. The company has confirmed that they will be finishing all its Indian projects which were previously delayed with the help of various funds they have garnered for swifter development.
According to a company official, the overall construction cost of these 10,000 units will be between Rs 800-1, 000 crore. Out of which, funds of approximately Rs 500 crore have been already been obtained from NBFCs and banks while rest will be covered via internal accruals.
They further said that these ten thousand units mainly include residential apartments, villas, and plots with a few shops too. According to the reports, possession letter for 2000 units has already been released to the buyers, while rest other are in the queue.
With this announcement, Emaar India is now emphasizing on timely completion of projects and this will provide relief to many home buyers. The Emaar group entered the real estate market of India in 2005 and since then it has completely redefined the Indian Property market. Because of excellent engineering and impeccable execution of the latest technologies, Emaar today is one of the world’s most valuable and admired real estate development companies.
The Emaar group is known for developing different categories of real estate properties like residential, shopping malls, retail, hospitality, and leisure. Emaar’s world-class projects are famous in Indian as well as International market too.
The company today has created world-class residential and commercial projects spaces in Gurugram, Delhi, Mohali, Lucknow, Jaipur, Indore and Chennai. Some of the landmark projects which Emaar has created include Marbella, Digital Greens, Emerald Hills, The Palm Drive, The Palm Springs, Commonwealth Games Village, Palm Hills, Palm Terraces Select, Gurgaon Greens, Imperial Gardens, and The Palm Springs Plaza.