Motia Grp will invest Rs 150 cr in housing project in Panchkula
New Delhi: Punjab-based realty player Motia Grp will invest Rs 150 crore in its housing project ‘Motia’z Harmony Greens’ in Panchkula. The project will be spread over 7 acres and is to be completed in multiple phases in three years. The houses in the project will have a size of 195-337 square yards.
It will be a low rose project - S+4. In phase I, the Group will deliver 72 units out of the total 272 units, the company said in a statement.
“With Chandigarh on the map for NRIs, the opening of properties in Zirakpur near Airport Road has provided them with the opportunity to expect high returns on their investment. It also has excellent access to key places, nearby tourist attractions, and high quality of life, making it a popular place to buy/invest. Furthermore, property investment is secure because you will receive returns on your capital, whether through rental or capital appreciation; capital appreciation is predicted to range between 10 percent and 12 percent in the short term,” says LC Mittal, Director, Motia Group.
Motia Group was set up in the year 2005. The ongoing projects of Motia Group, include Motia Huys (Adjoining Panchkula), Motia’z Guildford Square (PR7 Airport Road, Zirakpur, Chandigarh) and Motia’z Gill Estate (plotting) Chandigarh – Ropar Highway, Kurali.
The Group has delivered projects such as Royal Business Park, Royal Citi, Motia Citi located on Chandigarh – Delhi Highway Zirakpur, Motia Heights K- Area (Zirakpur), Royal Palm (Zirapkpur), and Motia Plaza (Baddi).