BPTP sells Rs 1,600 cr worth housing projects in six months

NEW DELHI: Real estate firm BPTP has sold properties worth Rs 1,600 crore during the first half of the current fiscal from its three housing projects in Faridabad in the national capital region.

On the back of improved sentiment in the property market, BPTP has sold nearly 7,000 units in these three projects, part of a 1,900 acre integrated township 'BPTP Parklands'.

"All the three projects are completely sold out. We have sold more than 6,000 independent floors since April in two projects. The company has also sold about 800 premium flats," BPTP Director Sudhanshu Tripathi said.

The company has earned revenues to the tune of Rs 1,600 crore by selling these units, he added.

Asked about investment on these three projects, Tripathi said it would be close to Rs 1,000 crore. The company would complete these projects within two years.

He said the end-user demand for affordable housing have increased over the last six months and this reflects in the number of units that company has been able to sold between April and September.

"Developing independent floors is cheaper by about 40 per cent than constructing high-rise buildings, which we passed on to the customers," Tripathi said.

Besides, he said the Haryana government's recent decision to allow separate registration for independent floors resulted in higher sales.

Other real estate developers, including DLF, Unitech, Jaypee Greens, have also reported robust sales in their housing projects.