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Chintels to invest Rs 300 cr in housing project on Dwarka Expressway

Press Trust of India  |  New Delhi 

Realty firm will invest over Rs 300 crore over the next five years to develop a housing project at Expressway in

The company will develop 324 units in the second phase of its housing project 'Chintels Serenity'.

Under the first phase, it constructed 120 units at a cost of Rs 155 crore.

The completion deadline for the second phase is 2023-end.

Chintels India MD said the project cost of the second phase is Rs 307 crore.

"Despite the delays in the construction of Expressway, the area is witnessing incremental demand over the years," said Solomon, who is also of industry body CREDAI.

Due to proximity to and Gurugram, the Expressway area has a huge potential and would evolve as the next popular residential and commercial hub in the National Capital Region, he said.

Chintels has in the area. It has tied up with realty players like and to develop housing projects in this area. With Sobha, it is developing a 168-acre integrated township 'International City'.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, April 13 2019. 16:46 IST