In an interview to CNBC-TV18, Sarang Wadhawan, vice chairman and managing director, HDIL shares his project plans for Diwali and how much he aims to garner from the same.
Below is the verbatim transcript of Sarang Wadhawan’s interview with Anuj Singhal and Ekta Batra on CNBC-TV18.
Anuj: Let us talk about your new launches. Tell us both in Virar and Ghatkopar, what kind of ticket sizes will your apartments have and what will be the realisation that you expect?
A: The one thing you have to realise is that HDIL has primarily focused on affordable housing for a very long time with some of our major projects being Vasai-Virar as well. We are looking at an average size of about 500-600 odd square feet apartments, trying to fit it into the budget of about Rs 25 lakh in the Vasai Virar sub-region. It is one of the largest affordable housing schemes that you are going to see in the Mumbai metropolitan region. It is about 550 odd acres, but currently we are looking at launching about one million sqft. The first phase will be about five million odd sqft whereas the total floor space index (FSI) is about 50 million sqft.
Along with that, we are looking also at providing some sort of affordable housing in Ghatkopar. It is about a million square feet in Ghatkopar. We are looking at 1-bedroom-hall-kitchen (BHK), 2-BHK apartments anywhere between about 600 odd sqft to about 950 sqft. We are planning these launches probably closer to Diwali and trying to get into that average size of about 25 lakh sqft for Virar and about Rs one crore for Ghatkopar.
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