Omaxe to Develop Housing Project in Jammu & Kashmir

Published: September 14, 2010 at 10:29 PM | Author: Administrator
News Source: Indian Realty News - September 14, 2010

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Realty firm Omaxe Ltd said its subsidiary has won a contract of Rs 128 crore from the Defence Ministry to develop a housing project in Jammu & Kashmir. Omaxe Infrastructure & Construction Ltd (OICL), a wholly-owned subsidiary of Omaxe, has been awarded the contract from DGMAP, Ministry of Defence to construct a residential complex at Nagrota in J&K, the company said in a statement.

“The project is valued at Rs 127.93 crore,” it said, adding that work order involves development and construction of the residential accommodation for the defence officers.

OICL would construct a total of 800 dwelling units for JCO’s and OR’s. The project will be completed in 27 months. “Our wide experience and expertise in construction of residential campuses will help us to construct the project in sync to the requirements of defence personnel,” Omaxe Chairman and Managing Director Rohtas Goel said.

OICL currently has an order book of about Rs 978 crore. It had recently bagged a contract from Air Force Naval Housing Board to build a housing colony at Meerut in Uttar Pradesh. In real estate, Omaxe is developing 53 projects. Among these, there are 21 integrated townships, including a Hi-Tech city, 21 group housing projects, 9 shopping malls and commercial complexes, and 2 hotels.