Real estate developer Omaxe Ltd said it launched ‘Naffhil Homes’, its first budget homes at Allahabad in Uttar Pradesh. To be constructed over an area of about 20 acres, this affordable housing project will be a part of around 1,535 acre ‘Omaxe Waterfront Hi-Tech City’ project, the company said in a regulatory filing.
Naffhil homes will have estimated revenue of over Rs150 crore and will be ready for occupancy in about 30 months, it added.
On Thursday, Omaxe ended 0.8% up at Rs94 on the Bombay Stock Exchange, while the benchmark Sensex closed 1.7% up at 17,022 points.
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