Saya Homes sells properties worth Rs 120 cr in festive season

Ghaziabad-based realty firm Saya Homes Tuesday said it has sold properties worth Rs 120 crore during the festive season in its two housing projects in Delhi-NCR on rising demand for ready-to-move-in flats. The company also said it plans to launch a luxury housing project in Indirapuram and will also enter into commercial real estate segment with a project in Greater Noida West. Saya group has so far completed two housing projects in Ghaziabad. It is developing a housing project 'Saya Gold Avenue' in Indirapuram comprising 1,600 units with an investment of about Rs 1,200 crore. In mid 2015, the company raised Rs 200 crore from financial services firm Edelweiss group to fund this project, which is almost complete. Its another project 'Saya Zion' in Greater Noida West, known as Noida Extension, comprising 680 units, has recently got completion certificate. "During the recently concluded festive season, the company booked 75 housing units in its Indirapuram based project Saya Gold Avenue and over 25 units at Saya Zion," Saya Homes said in a statement. The total sales revenue from the bookings is estimated to be Rs 120 crore, it added. Saya Homes MD Vikas Bhasin said: "Indirapuram is one of the most sought after realty destinations where home seekers regularly invest. Greater Noida West, is another such region where a buyer of mid segment is comfortable buying home." The demand for ready-to-move-in flats are rising as it carries no risk to home buyers and also attracts nil GST.