NAFHIL to launch 10,000 low-budget homes in January, 2009

NEW DELHI: National Affordable Housing and Infrastructure Ltd - formed by promoters of Omaxe to provide low-budget homes - said on Friday thatit would launch five projects in January next year.

These projects would come up in Indore, Raipur, Bhopal, Bareilly and Allahabad.

"We will be launching five affordable housing projects comprising about 10,000 units on January 26 next year," NAFHIL Chairman and Managing Director Rohtas Goel told reporters.

The prices would be in the range of Rs 2.99-9.99 lakh per housing unit, he added. He, however, declined to give details about the size of investment for developing the projects.

Goel is also the Chairman and Managing Director of Omaxe, which earlier this month divested 51 per cent stake in NAFHIL to a promoter group firm.

Earlier in May, Omaxe had announced to invest Rs 80,000 crore to develop 10 lakh affordable homes for low-income consumers in the next five years at a price range of Rs 3-15 lakh per flat.

For the purpose, the national capital-based developer had set up a its subsidiary - NAFHIL.