Omaxe has announced the launch of a group housing project in Lucknow, Uttar Pradesh. The project, Omaxe Residency, will have a realisation value of about Rs 250 crore. This is the company’s third project in Lucknow, after Omaxe City and Omaxe Heights.

Omaxe Residency is located in Gomti Nagar extension, connected to Shaheed Path and Sultanpur Road. It has an excellent access through a 45-metre road.

This housing project, spread over 14 acres, will have 960 units. The 2BHK unit will have an area of 1,150 sq ft, the 2BHK plus study will have an area of 1,250 sq ft and the 3BHK unit will have area of 1,450 sq ft area with a basic sales price of Rs 1,750 per sq ft.

The project will offer a plethora of recreational and health facilities such as an ultra-modern club equipped with swimming pool, sauna, steam, jacuzzi, shower cubicle and hi-tech gymnasium.

The club will have indoor games such as billiards, snooker and pool and outdoor games such as tennis and a multi-purpose court.

Rohtas Goel, CMD, Omaxe, said, “After successfully delivering two of our prime projects in Lucknow, we now give the residents of Lucknow, Omaxe Res­idency. It will provide a delightful environment to its residents who will enjoy a lif­estyle, which is modern and international and is set to create new trends in the way of living.”

Omaxe Residency would have round-the-clock efficient power and water supply. The project is proposed to have options of open and covered car parking.

The project has demarcated areas for shops, school and a dispensary. This earthquake resistant project will be surrounded by the finest hospitals and schools and is in the vicinity of posh locality of Lucknow.

The company plans to develop a hi-tech township on Raibareilly Road near PGI for which the company, through its subsidiary, has signed an MoU with Lucknow Dev­elopment Authority.

This is expected to be a 2,700 acre project. Omaxe Residency is expected to be ready for occupancy in about three years.

Omaxe Infrastructure & Construction (OICL), a wholly owned subsidiary of Omaxe, also bagged a contract from Air Force Naval Housing Board (AFNHB) to construct a housing colony at Meerut, Uttar Pradesh. The contract, which involves development and construction of the residential colony, is pegged at Rs 57.2 crore. The project, to be spread over 10 acres, will comprise 365 dwelling units in. This housing project will have two residential options – 2 BHK and 3 BHK.

The project will be equipped with facilities such as a community centre, a commercial space that will cater to the shopping needs of the residents and a swimming pool. There will be a reserved green landscaped area, stilts for parking, power back-up and water supply.