Astrum Homes announces JV with SRC Group to enter Delhi NCR
New Delhi, 7th Nov, 2013: India’s pioneering developer backed by FDI, Astrum Homes, announced its foray into the Faridabad market with a premium housing project in Joint Venture with a reputed real estate player, SRC Group of Faridabad. This world-class 13 acre project will be developed in an integrated, self-contained format in the upcoming area of Sector 49 in Faridabad. Under this joint venture Astrum Homes will develop and market the project upcoming project.
SRC group, with its firm roots in Faridabad, is one the frontrunners in real estate market of Faridabad. They currently also have a large industrial park under development in the city.
The upcoming residential project at Faridabad is being designed by a highly reputed architectural firm of Australia, DBI Design. DBI is one of the leading architectural firms in the Asia-Pacific Region with specialization in creating high-rise developments. The planned project will have mix of 2, 3 and 4BHK apartments. It will offer world-class amenities to its residents such as club house, indoor and outdoor sports facilities, neighbourhood retail, 3-tier security, play areas, parks, ample open and parking spaces, power backup, etc. It is also planned to have the tallest residential tower of Faridabad. This iconic structure will be of more than 30-storey height. The project with modern and contemporary design will also offer fascinating views of Aravalli range from its residences.
This strategically located project is at just 20 minutes drive from Gurgaon or South Delhi. Away from hustle-bustle and noise of the city and surrounded by lush greenery, the project is yet in close proximity of all important landmarks of Delhi NCR. Astrum Homes will target young population in upper-middle income bracket which is working in Faridabad, Gurgaon and South Delhi for this project. It will provide a strong alternative to the projects in Gurgaon being sold at skyrocketing and absurd prices.
Speaking about the project, Mr. Om Chaudhry, Chairman and CEO, Astrum Homes said, “we at Astrum Homes are committed to the concept of affordable luxury and offer our customers full value for their money by providing them world-class amenities in our projects. As some areas of Delhi NCR have become unaffordable for a large section of the population, this type of developments will provide the customers with international quality of life at reasonable prices thereby meeting the aspirations of its customers. We are confident that we would be able meet the expectations of the residents of Faridabad.”
Speaking about the association with Astrum Homes, Mr. Subhash Chaudhary, Founder and Chairman of SRC Group, said “This is only the second FDI project in Faridabad and with the global expertise and experience of Astrum Homes and local market understanding of SRC Group, this association will provide world class habitation to the Faridabad market.”
About Astrum Homes
Astrum Homes is an FDI funded India focused Home Builder, engaged in developing world-class residential solutions in emerging cities of the country. The company has been promoted by the management team of FIRE Capital in partnership with leading North American real estate investment and development firms, primary among which is the Miami based The Related Group. FIRE (First Indian Real Estate) Capital Fund is a pioneering Indian real estate centric private equity fund that has created five large format integrated township projects across India and is developing the same with an outlay of more than USD 1.5 billion or INR 7000 crores. Around 50 million sq ft is being put under world-class housing development across 1300 acres in different cities across India.