Omaxe may raise prices; to launch new projects

Published: September 29, 2009

Real estate developer Omaxe Ltd may raise prices this fiscal year and plans to launch four new projects over the next two months on rising demand, its chairman said on Tuesday.

“Demand might be robust…I will increase prices very soon, in single digits (percentage) within this year,” Rohtas Goel told reporters at an industry conference.

The firm will invest Rs 15 billion on the new projects, Goel said, adding he expects revenues of Rs 23 billion from the projects over 30 months.

India’s property market is recovering from a bottom hit earlier this year, and analysts say much of the demand will be from middle-income and affordable housing.

Source: Economic Times

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