Real estate developer—CHD Developers have firmed up plans to pump in Rs 1,000 crore into various projects over the next 3-4 years. The developer plans to raise the money from the market as well as plough back the profits.
The company will be developing group housing projects as well as commercial complexes. “We have a proposal to set up retirement lifestyle housing project for the retired people,” said RK Mittal, chairman and managing director,
CHD Developers. He further informed that the company targets to build resorts and luxury housing for people above 55 years of age. “These projects will come up in Haryana, Rajasthan, Mathura and Rishikesh etc. We will be designing the resorts in consultation with an Australian expert and things will be finalised soon.”
CHD Developers has recently opened bookings for residential plots at its mega project, the CHD City, an integrated township spread across 200 acres on GT Road in Karnal, Haryana. “About 500 plots are already booked and now we have opened the booking for 200 more. Next stage will be to launch villas, commercial spaces and apartments. A shopping mall is also coming up in the township, which will have 2 cinemax screens. We are also developing group housing project in Vrindavan and Haridwar. Plans are in the pipeline to develop about 350 villas in Ludhiana over 50 acres and the plan will be finalised soon,” said Mittal.
The company has delivered projects covering more than 700,000 sq. feet area and proposes to develop more than 10 million sq. ft. area in the next few years. Its turnover in the year 2007-08 was Rs 70 crore and target for this year is Rs 100 crore.
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