Jain Housing Launches Residential Projects

South-based Jain Housing and Constructions have launched its two mega residential ‘Carlton Greek’ projects.

Company’s CEO Vijay Kumar Managing Director Sundeep Mehta said that company will construct 1,120 apartments in two phases investing Rs 950 crore.

He said that the project would be completed by 2011. The company’s last year turnover was Rs 280 crore with profit after tax was Rs 120 crore.

Jains’ portfolio includes over 150 residential projects that include 4.5 million square feet of completed project and over 10 million square feet of on-going projects.

Mr. Mehta said “Exuding elegance, grandeur and style, this ultra indulgent residential offering unfolds a refreshing idiom of home design that radiates a pleasing balance of form and function”.

2 Comments

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    Posted August 12, 2008 at 11:45 am | Permalink

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  2. Posted August 14, 2008 at 3:47 am | Permalink

    India has “enormous potential in all its property investment categories”. Strong population growth, a large pool of qualified workers, greater integration with the world economy and increasing domestic and foreign investment are fuelling demand for office, retail and residential property. India’s burgeoning middle class will drive up nominal retail sales through 2010 by 10% p.a. At the same time, organised retail is becoming more important. At present organised retail accounts for a mere 3% of the total; by 2010 this share will already have reached 10%.India is the prime destination for IT services outsourcing. In the coming five years, at least 55 million m² of extra office space must be completed in the premium office segment alone. Property investments in India are not risk-free. Market transparency is far behind European or US standards. It is therefore vital for foreign investors to have a professional local partner. The lack of liquidity and upward pressure of pricing remain the main concern within the market.

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