City Lights: Urban renewal mission to be extended by 2 yrs

Urban renewal mission to be extended by 2 yrs

The government is considering extending the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) by two years to enable completion of projects undertaken across the country. The second phase of the JNNURM was in preparatory stage and new projects would be taken up after its launch. “157 projects accounting for a total investment of Rs 20,478.63 crore have been sanctioned under the Urban Infrastructure and Governance component of the JNNURM which covers 65 identified cities.

SARE Homes launches luxury development

SARE Homes launched Petioles,privacy apartments in Sector 92,Gurgaon. Developed on a 48-acre integrated township,Petioles consists of 4 BHK and 4 BHK + Servant room apartments with the areas ranging between 2,040-2,226 sq. ft. Each floor would have three apartments to offer maximum privacy. It also comes with a Sky Deck that has a viewing deck,water wall and putting green. Prices start from Rs 75.4 lakhs and the first phase would be ready for possession in April,2012.

Assotech Realty offers mixed-use development

Assotech Realty is develop a commercial project in Sector 137,Noida Expressway,Noida. The project called Assotech Business Cresterra would have a total saleable area of 1.4 million square feet that comprises 1.2 million square feet of office space,150 serviced apartments and 70,000 square feet of retail space. Office spaces cost around Rs 5,500 per square feet and service apartments at about Rs 6,000 a square feet. A 775 square feet service apartment is to be priced at Rs 46 lakh. These apartments would be managed by Assotech Realty itself. The company is offering investors assured return of 11.5 per cent for five years.