The eight towers have a total of 316 units in residential projects and the total investment in eight towers would be Rs 150 core accrued and non-accrued. Migsun’s investment would be through accrued sales.
The residential project is spread across 103 acre and features an exclusive 9-hole golf course. Eighty percent of land offers open green spaces and are dotted with independent units overlooking the scenic golf course. The project offers 3,4 and 5 BHK units starting from 1150sq.ft to 1460sq.ft.
“We are moving steadfastly to complete it within the designated time limit. We have been able to gain the trust of buyers as we stick to the delivery timelines. We have been noticing the problems buyers are going through due to project delays; to address it, we will take up stuck projects worth Rs 5,000 crore in this calendar year to contribute to uplift the segment and help buyers get hold of their real estate assets,” said Yash Miglani, MD, Migsun Group.
The company plans to take up more projects under the PMC model and complete it within the deadline.
“The projects will be developed under the JV and DM models. We’ll assess the project and make a decision based on our findings. We will pursue township and group housing projects in the residential sector. Our strategy to resurrect stalled projects may not significantly impact new demand, but it will bring relief to dissatisfied homebuyers who have been holding their breath. Our effort is to enhance the overall consumer sentiment and helping to fix the supply side,” Miglani said.