Disha Direct, Mumbai-based realty developer and pioneers of second homes, has launched a new Sai Sharnam residential project at Shirdi, close to Ahmednagar district in Maharashtra. Shirdi is famous for its association with the Hindu saint Shri Sai Baba. “Sai Sharnam project is for the convenience of the devotees of Shri Sai Baba of Shirdi,” Santosh Naik, managing director of Disha Direct, told Financial Chronicle.

The pilgrim city is 83 km from Nashik and 240 km from Mumbai. “There has been a demand from the visiting pilgrims as well as corporate travellers,” said Naik. The firm has invested Rs 15 crore on the project from its internal accruals, he said.

Sai Sharnam residential project is spread over 3-acre campus and comprises 200 apartments in six buildings, each one with four storeys. “We have built 100 ready-to-move-in 525 sq feet luxury studio apartments and 100 one BHK apartments of 740 sq ft,” said Naik. These apartments are priced at Rs 3,500 per sq ft, costing approximately Rs 18.37 lakh for studio apartment and Rs 25.90 lakh for one BHK apartment.

Other elements promised are beautiful landscaping and picturesque surroundings. Sai Shar-nam also boasts of facilities such as world-class interiors, vitrified flooring, American skin doors, German style modular platform and latest safety options.

According to Naik, in the past few years Shirdi has come up as one of the preferred place of investment in property market. The recent development of infrastructural facilities at Shirdi has increased the price of properties in the city, he added. “A studio apartment in Shirdi can fetch about Rs 5,000 to Rs 6,000 and one BHK apartment can give you Rs 9,000 to Rs 10,000 a month as rentals,” Naik said.

With over 8,000 customers and 10 offices in India, one each in New York and Dubai, Disha Direct has completed 23 projects till date and is constructing 29 projects at various locations in the country.

michaelgonsalves@mydigitalfc.com