Project part of an approximately 150 Acre Unitech township in Ambala
Unitech Limited, India's leading business group and an integrated developer of large-scale real estate has launched the first phase of its affordable housing project Unihomes in Ambala, Haryana. This project which will be launched in phases is a part of an almost 150 Acre Unitech township project in Ambala. First phase of this project is offering 300 units to buyers.
Unitech introduced affordable housing as a product offering under the “Unihomes” brand in 2009 as part of its strategy to expand its product offering and achieve leadership in the Residential Housing segment. The previous launches of Unihomes; in cities such as Rewari, Mohali, Chennai, Noida and Bhopal; has met with an encouraging response from the customers.
The Phase 1 of Unihomes, Ambala, comprises of 2 & 3 BR independent floors (Ground Floor + 2 levels) in sizes including 953 sqft and 1646 sqft.
The demand and pricing environment of the residential product has been stable and with the recent measures announced in the Union Budget 2011 the pace of demand for Affordable Housing will be robust and Unitech is well poised to respond to this demand.
The launch of Unihomes, Ambala is in line with Unitech’s business plan to launch almost 10 million square feet in the next few months. In the past, some of the projects launched include ~ Gardens – Mohali, Aspen Greens – Mohali, Espace Premier – Gurgaon, Residences – Noida, Gardens – Chennai, Unihomes 2 – Chennai, Green Wood City – Chennai etc.
Unitech has been steadily improving its cash flows on the back of improved realization from Operations. As announced in the Q3FY11 results, Unitech has reduced its net real estate debt by Rs. 555 crore in the 3rd quarter of FY 2011. Its real estate net debt equity ratio now stands at 0.40 which is one of the lowest in the industry. Being comfortable from a financial leverage perspective, the Company is focusing on its core operations ~ Launches, Execution and Delivery of Projects. Delivery of finished products has commenced in most of the pre-March 2009 projects and is expected to accelerate in the coming months
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