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Risland Holdings forays into Indian real estate market

Thursday, 13 Jun 2019
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Risland Holdings, a Hong Kong-based realty firm, has entered Indian real estate market and will develop its first housing project in Delhi.

The project will be developed at an estimated cost of Rs 700 crore, which will be funded through internal accruals and advances from customers against sales. The company has tied up with local developer Uppal Group to construct a residential project near Chhatarpur, South Delhi. Uppal Group owns 4.1 acre of land parcel.

The company will develop Sky Mansion, a 100 mtr tall ultra luxury residential condominium.

The construction work on the project has already begun. The residential project will be ready for possession in November 2021.

The construction contract has been awarded to China Construction Third Engineering Bureau (CCTEB India).

Risland Holdings will develop 160 units in the residential project besides one tower for economically weaker section. The project will be launched for sale in July 2019 in a price range of Rs seven crore to 12 crore for an apartment, while the rate of penthouse will be Rs 22-25 crore.

The company is looking to develop more real estate projects in Delhi-NCR and other parts of the country.

 

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