Can an apartment cost Rs 500 crore? This apartment is going to be made in India. DLF has been the most expensive apartment in India so far. It costs 100 crores. Now Santek Realty is going to develop two Ultra-Laljari Housing Projects. Their price can go up to Rs 500 crore. This shows the demand for ultra-lifesight apartments in India.
Ultra luxury projects will be made in Mumbai and Dubai
Sunteck realty In Mumbai and Dubai, two ultra-taljari housing projects will be built. The company will offer them under the by-Invit-only-only real estate lifestyle brand ‘Emaance’. The company’s CMD Kamal Khaitan told PTI, “We are entering the ultra luxury residential segment under the new brand emaance. It is made up of two words-immense and indulgence.
Both projects will be launched in June
The company plans to launch both projects by June next year. A project will be located on Napiani Road, Mumbai. The second project will take place at Burj Khalifa Community in Dubai. The Dubborn project will be the first project of Santek Realty outside India. Khaitan said, “We both want to launch projects by June next year.”
20,000 crores can be spent on projects
Developing both these projects can cost around Rs 20,000 crore. The price per sq ft in these projects can be more than Rs 2.5 lakh. This will make it the most expensive and exclusive project in India so far. Santech is one of the largest real estate companies in Realty India. The company has so far introduced 32 projects, which are about 5.25 million sq ft.
Company earned Rs 33 crore in June quarter
Santek Realty earned a consolidated profit of Rs 33.43 crore in the first quarter of this financial year. This is 47 per cent higher than the profit of the same period as a year ago. The company earned 22.78 crore profit in the same period of a year ago. However, in the June quarter this year, the company’s total income fell to 328.01 crores.