Vibgyor brings its maiden project to Lucknow

Tags: Real Estate

The project, coming up at Dewa Road, offers flats and studio apartments with a price tag of Rs 1,650 per sq ft

Vibgyor brings its maiden project to Lucknow
vibgyor Housing, the realty arm of the Kolkata-headquartered diversified Vibgyor group, is now looking beyond Kolkata and West Bengal for expansion. Moves are afoot to develop 500 residential, residential-cum-commercial and multi-use properties in many parts of the country over the next three years, Raja Bhadra, chairman and managing director, Vibgyor Group, told FC Build.

The group has already completed 17 residential projects in and around Kolkata and some parts of West Bengal. Although many of the remaining projects that the group proposes to set up over the next couple of years are in the drawing board stage, Vibgyor group has already set its foot outside the state with its maiden project in Lucknow, Uttar Pradesh going off the ground recently. Christened as Vibgyor Housing Lucknow, the project is coming up at Dewa Road, less than 10 minutes off the central administrative and business district of the city. The group has infact floated a new company Vibgyor Housing, UP to take up the project, Bhadra said.

“Our motto is to provide homes with best of facilities at an affordable price for every family. We are progressing at a rapid pace. With the completion of 17 projects in a year’s time and taking up projects outside the state, I think we are on the right track,” he said.

Vibgyor Housing Lucknow will house nine towers, each of which will be a ground-plus-six buildings. Developers said altogether there will be 792 residential units comprising one and two-BHK apartments, studio apartments and bungalows. The sizes of studio apartments and flats would range between 272 sq ft and 634 sq ft, with a price tag of Rs 1,650 per sq ft. Bungalows will naturally have much larger space and there prices are yet to be fixed. The developer claims to hand over the residential units by March, 2014.

“Our first project in Lucknow is being built on a unique design that allows plenty of sunshine and fresh air in every apartments,” Bhadra said.

Besides residential towers, the complex will have utility shops, pharmacy, children’s play area, guest house, ATM counters, commercial block, AC community hall, shuttle bus service, fitness centre, club and spa. It will also have 24x7 power back-up, round-the-clock security services, lift, 24x7 water supply and parking space for two-wheelers and four-wheelers.

“Real estate in India is one of the most volatile and keenly watched segments of the Indian economy. Affordable housing in India has become the new mantra for everyone related to the realty sector in the country,” Bhadra said.

ritwikmukherjee@mydigitalfc.com

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