As real estate giant DLF prepares to its debut on Dalal Street on July 4, its closest rival Unitech is ready to make a splash the same day with the launch of India''s largest residential township in Noida. The Unitech Grande will come up at an area that is spread over 340 acres on the Noida-Greater Noida Expressway. Last year, Unitech managed to outdo DLF when it bagged the land for Rs 1,583 crore, making it India''s largest land deal. Around three-years from now, Unitech completes its project and the residential township will have a 9-hole golf course and 80 highrise buildings with the tallest being 50 storeys high.
But what''s surprising is that at a time when most analysts are talking about a price correction in the real estate market. Unitech has gone ahead and launched the project at a 50 per cent premium over the going rate in this area. Unitech to launch Noida project at Rs 7,750/sq ft. Omaxe, and Eldeco are selling at Rs 5,000/sq ft. While three years back, going rate there was Rs 1,700/sq ft.
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