One of the top rated realty farm Omaxe, is planning to launch projects spread over approximately 1,200 acres across Tier II and Tier III cities in Uttar Pradesh, Madhya Pradesh, and Punjab in the next four years with an expected investment of around Rs 4,000 crore.
Managing Director, Omaxe Group, Mohit Goel mentioned, “Tier II cities offer higher returns than Tier I cities. While we have launched two luxury projects in Lucknow, we are now planning to launch projects in Indore, Ujjain, and Ratlam in Madhya Pradesh; Amritsar, Bhatinda, and Chandigarh in Punjab and Lucknow, Gorakhpur, Allahabad, and Vrindavan in Uttar Pradesh.”
Currently, the farm is actively participating in the real estate arena of Lucknow and soon they are planning to expand their empire further throughout Uttar Pradesh. The total investment for Uttar Pradesh is likely to be around Rs. 2,500 crore for the next four years. This would be across the residential, commercial, and retail segments.
The company is planning to construct a township in Gorakhpur which will be spread nearly across 100 acres. The company has entered into a Memorandum of Understanding (MoU) for the development of the township on land measuring roughly 57 acres. The whole area will include plots and villas, which is likely to be launched in May or June next year. The group is introducing a project in its existing townships in Allahabad and Vrindavan by the next year.
Omaxe is planning to acquire mixed-use land in Amritsar and a township spread across 100 acres is expected to be launched in Ludhiana by the next fiscal year. They are introducing 15-acre shop-cum-offices project in Chandigarh and exploring to construct over 40 acres of land in Bhatinda.
They have invested 750 crores in Madhya Pradesh, and in Indore, Omaxe is planning to set up a fourth township, spread across 300 acres, also they are planning to acquire 5-acre land parcel in Ratlam.
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