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Sahara Prime City Ltd, real estate arm of Sahara Group, has roped in UK-based management and construction consultants, Gleeds, for its 217 Sahara City Homes coming up across the country.
Sahara City Homes is a flagship real estate project of Sahara Prime City Ltd under which the townships spread over 100-300 acres are planned to be developed. Already four have been completed in Lucknow, Hyderabad, Bhopal and Gorakhpur under the Sahara States township brand. At present, nine are being developed in Nagpur, Indore, Ahmedabad, Gwalior, Lucknow, Coimbatore, Aurangabad, Solapur and Jodhpur. In six months’ time, 22 more townships will be taken up for construction.
These air-conditioned townships will offer one to five bedroom residential units in the category of high-rise and mid-rise apartments, independent row houses and independent bungalows. Each of the cities is to have shopping malls, multiplexes, hospitals, schools, hotels, club, community centre, retirement homes, besides multilevel security, local transport and essential services like convenience stores, banking, homecare and postal services. The focus of these townships falls on middle and upper middle class with affordable homes priced at Rs. 2600-Rs. 2800 per sq ft.
According to Sandeep Wadhwa, Head Of Strategic Finance, Sahara Prime City, the company is talking to private equity firms, banks, financial institutions and some international developers for part-funding of the townships project. Asad Ahmed, Head (planning and Consruction) has said that each of the townships will take 4-5 years for completion and SCH will start giving possessions for its Indore, Nagpur and Lucknow townships by December 2009.
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