Unitech plans to launch affordable housing projects

New Delhi: Realty major Unitech plans to set up mid-segment residential projects in the range of Rs 5-10 lakh in metro and suburban cities like Gurgaon, Chennai and Kolkata over the next few months.

The company is charting a strategy to come up with such low-cost apartments. The new projects will be based on a different model altogether, where the target customer and the margins will be different.

The company had recently launched a residential project in Gurgaon’s Sector 47 that offered a flat in the range of Rs 29-42 lakh. The average size of the apartments is 1,100-1,200 sq ft. The company has launched 200 apartments in the first two phases and 150 of these have already been sold.