Prateek Group announces Rs. 2,000 crore premium Housing Project in Ghaziabad

In the first phase, the Prateek Group has introduced about 1200 apartments in the Siddharth Vihar neighborhood of Ghaziabad, with prices ranging from Rs. 1.2 crore to Rs. 2.75 crore.

In the Siddharth Vihar neighbourhood of Ghaziabad, the real estate company Prateek Group plans to invest more than Rs. 2,000 crores to build a luxury housing development. Investors and end users will be the project's two main targets.

'Prateek Grand Begonia,' the new project by Prateek Group, has opened in Ghaziabad. 2,400 apartments total, distributed over 15 acres, are part of the project.

About 1200 flats in the Siddharth Vihar neighborhood of Ghaziabad have been introduced by Prateek Group as part of the first phase, with prices ranging from Rs. 1.2 crore to Rs. 2.75 crore.

The company declared the opening of Prateek Grand Begonia, a new project that will include 2,400 apartments over 15 acres, on January 10.

The company has already started construction on the new project, for which it will invest more than Rs. 2,000 crores. "Within the next five years, the project will be completed. With this project, we anticipate sales revenue of over Rs. 5,000 crores," CMD of Prateek Group Prashant Tiwari told reporters.

The first phase consists of about 1200 apartments, for which the company has introduced a 30:70 payment plan. "Only 30% of the apartment cost will be collected from buyers during the booking process, with the remaining 70% to be paid at the time of possession," stated Tiwari.

The price per square foot of the apartments is Rs. 11,000, with prices ranging from Rs. 1.2 to Rs. 2.75 crore.

Prateek Group sold over 400 apartments prior to the launch, with a price tag of about Rs. 9,000 per square foot.