Real estate developer SARE Homes plans to sell over 4,600 residential units in FY13

CHENNAI: Real estate developer SARE Homes (South Asian Real Estate) plans to sell over 4,600 residential units this financial year, a top company official has said.

SARE Homes sold about 2,000 units last year. "We are focused in residential real estate business. This year we are expecting to sell over 4,600 units. We have sold 4,500 units till date," SARE Homes Executive Director David Walker told reporters here.

Stating that demand for affordable residential units has been growing over the last two years, he said the company is currently engaged in several projects across India.

"Currently, our land bank is about 700 acres. We are engaged in three projects in NCR, one in Mumbai, one in Indore, one in Amritsar and two in Chennai," he said.

Walker and senior company officials were here to announce their second expandable villa project -- SARE Crescent ParC, near Chennai, to come up on 112 acres valued at Rs 1200 crore.

"This is our second project in Chennai. We completed our first project 'MeadowVille' comprising 400 apartments and it was very successful," he said.

He said the apartment units in the second project would be priced between Rs 40 lakh (for two BHK duplex villas) and Rs 55 lakh (for 3 BHK duplex villas).

The expandable villa project are designed to enable owners add additional room at their convenience. Layouts are pre-approved to ease this expansion, he said