Omaxe Announces Rs. 4,000 Crore Investment Plan for Projects in Tier 2 and Tier 3 Cities Over the Next 4 Years

Real estate developer Omaxe, listed on the stock exchange, is gearing up for a significant expansion with plans to launch projects spanning approximately 1200 acres across Tier 2 and Tier 3 cities in Uttar Pradesh, Madhya Pradesh, and Punjab over the next four years. This ambitious endeavor is set to involve an expected investment of around Rs. 4000 crore.

The company sees considerable potential in Tier 2 cities, which are anticipated to yield higher returns compared to Tier 1 cities. While Omaxe has already launched two luxury projects in Lucknow, it is now eyeing expansion into various cities in Madhya Pradesh, Punjab, and Uttar Pradesh.

In Uttar Pradesh, Omaxe is currently active in Lucknow but intends to extend its footprint to additional cities, committing an estimated investment of around Rs. 2500 crore over the next four years. This investment will cover residential, commercial, and retail segments.

For Madhya Pradesh, Omaxe plans to invest around Rs. 750 crore over the next four years. The company is gearing up to launch a fourth township in Indore, covering approximately 300 acres, and is also eyeing a 73-acre township in Ujjain. The projects in Indore and Ujjain are expected to be launched in the current fiscal year. Additionally, Omaxe is exploring the acquisition of a 35-acre land parcel in Ratlam, with plotted and mid-segment projects anticipated in these three cities.

In Punjab, Omaxe is set to invest around Rs. 750 crore over the next four years. Plans include the development of a 250-acre township primarily focused on plots in Amritsar. The company is also considering mixed-use land acquisition in Amritsar and aims to launch a 100-acre township in Ludhiana in the next fiscal year. In Chandigarh, Omaxe plans to introduce a 15-acre shop-cum-offices project, while exploring expansion into around 40 acres in Bhatinda.

In Gorakhpur, Omaxe envisions a township spanning approximately 100 acres in the future, with a Memorandum of Understanding already in place for the development of a township on 57 acres. This project is expected to include plots and villas, with a planned launch in May or June of the next year. Additionally, Omaxe is preparing to launch projects in its existing townships in Allahabad and Vrindavan by the next year.

These strategic initiatives underscore Omaxe's commitment to broadening its presence in key markets, capitalizing on the potential of Tier 2 and Tier 3 cities, and contributing to the growth of the real estate sector in the region.

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