Unity Group to invest Rs 3,000 crore on affordable housing project in Central Delhi

Realty firm Unity Group will invest about Rs 3,000 crore to develop an affordable housing project at Karol Bagh in central Delhi, Harsh V Bansal, director of the company told PTI on Sunday.

The company will develop 2,500 flats in 'The Amaryllis', a 40-acre project. It has also tied up with global fashion house Gianni Versace to build branded homes in two 45-storeys twin towers, touted as tallest in the city with over 182 metre height.

Unity group is developing this project in joint venture with DCM Group, he said, adding that this land parcel was earlier used by the DCM Group for housing accommodation of workers in Delhi Cloth Mills. The investment would be funded through internal accruals and advances from customers, Bansal told PTI.

It has also tied up with global fashion house Gianni Versace to build branded homes, the company said in a media release. The properties will be sold on invitation, the price of which will be decided later.