NEW DELHI: Indian Medical Association (IMA) has entered into an agreement with realty firm Antriksh group for providing 275 flats to its doctor members on Noida Expressway at a 25 per cent discount to market rates.
Delhi-based Antriksh group would invest about Rs 300 crore to develop these 275 flats and IMA House, which will have a world-class convention centre and community centre.
"We have tied up with Antriksh group to provide homes to our members. The price of the apartments would be 25 per cent less than the market rates," IMA General Secretary Narendra Saini told reporters here today.
Saini said the association has 2.5 lakh members and it works for welfare of members as well as the community.
The flats would be offered to doctors on the first-come first-served basis at Rs 3,995 per sq ft. Size of the units ranges from 2,025 sq ft to 3,475 sq ft, Antriksh Managing Director Rakesh Yadav said.
"We will offer 275 flats at 25 per cent discount while the 15,000 sq ft 'IMA House' will be complimentary," Yadav said, adding the company would invest about Rs 300 crore to develop this project.
The project cost would be met through internal accruals, bank debt and advances from customers.
'Indian Medical Golf Towers', part of Antriksh group's 20-acre project in Sector 150 on Noida Expressway, would be completed in the next three years.
For bulk sale of flats, real estate developers has been entering into corporate deal with PSUs as well as private firms at a dicounted price.