Emami Realty to invest nearly Rs 225 cr to build 100-acre township in Jhansi

The company will develop the township ''Emami Nature'' in two phases. The first phase comprising 54 acres will be launched for sale this week.

"We are coming up with an integrated township at Jhansi. We will launch more than 200 plots and also develop villas in the first phase," Emami Realty CEO Nitesh Kumar told PTI.

The township, designed by Singapore architect firm, will have a total built-up area of 48.66 lac sq ft, of which 27 lakh sq ft in the first phase.

Emami Realty, the real estate venture of business conglomerate Emami Group, will invest Rs 223 crore to develop this township, Kumar said.

He said the development of the first phase will start in August this year. It will be completed over the next three years.

Asked about selling prices, Kumar said the plots are available in the price range of Rs 27-90 lakh, while villas will cost between Rs 55 lakh to Rs 1.3 crore.

"Jhansi is one of the prominent industrial district of UP which houses administrative headquarters of BHEL, Mysore Cement, Baidyanath Ayurvedic and Bharat Petroleum among others, but the city lacks quality living with planned development," Kumar said.

The company''s township at Khailar in Jhansi is located on the outskirts of the city.

Kumar said the company would target both end users and investors to market this township.

He said the demand for housing is getting consolidated with branded and credible players.

Emami Group has so far delivered more than 24 prestigious residential and commercial projects, comprising 36 million sq ft area, primarily in Kolkata.

At present, it is developing projects mainly in Kolkata, Mumbai, Coimbatore and Chennai.