Omaxe, via its subsidiaries, has secured 260 acres of land for an integrated township known as New Amritsar in Punjab. In the initial phase, it is developing 127 acres with an investment exceeding ā¹1,000 crore. “Looking ahead, we also perceive the potential to broaden this township through further land acquisitions,” stated Mohit Goel, the managing director of the company.
During the first phase, the company is providing residential plots of 300 sq yards, 500 sq yards, and 1,000 sq yards. The project will also feature commercial spaces, a school, and various other amenities.
The completion of the first phase is anticipated in roughly four years. The initial investment is being financed through internal accruals. Depending on future needs, the company may explore additional funding options to facilitate further development.
