Samira Habitats to raise Rs 1,200 cr over five years

Real estate firm, Samira Habitats, plans to raise Rs 1,200 crore over the next five years to develop residential townships in Panvel, Alibaug and adjoining areas near the metropolis.     

"We plan to raise around Rs 1,200 crore over the next five years. This will be invested in developing about 150 acres of land for residential projects in Alibaug and for setting up infrastructure to connect the area to Mumbai," Samira Habitats Executive Director Mihir Nerurkar told PTI here today.     

The company, which has a land bank of 2,400 acres in the Panvel-Alibaug-Revdanda-Kashid (PARK) area, intends to raise some amount of capital through the private equity route.     

Samira Habitats today launched a 200 residence project called Samira Pavilions, the total project cost of which comes to about Rs 200 crore, including acquisition of land.      

The company will provide speed-boat transfers between Mumbai and Alibaug, including limousine transfers to residents at their doorstep.

"We started work on Samira Pavilions in February and it is expected to be finished by 2012. Six of the homes are going to be designed by (fashion designer) Sabyasachi Mukherjee," Nerurkar said.     

These homes will be fully-serviced by professional facility management firm, Knight Frank India, which is assisting the company in sales.