Real estate developer Arttech has acquired a 7.3-acre land parcel for Rs 70 crore in Faridabad, mentioned a senior firm govt. The firm plans to develop a one million-square-foot reasonably priced housing mission on the website, which is positioned close to the upcoming Jewar airport.
The firm goals to finish the mission inside four-five years of the launch. “Faridabad is destined to set a brand new benchmark in the true estate sector,” mentioned Sandeep Gupta, managing director, Arttech, pointing to the opening of Jewar airport and connectivity to the Mumbai expressway.
CLS Finance is the lender for Arttech’s land financing.Recently, Gurgaon-based Elan Group acquired 40 acres of land from Indiabulls Real Estate for Rs 580 crore in Sector 106, Dwarka Expressway, Gurgaon, in one of many largest current land offers in the nation.