LUCKNOW: Singapore-based real estate developer Azea Property Investment (API) today announced to invest Rs 200 crore in a housing project in Lucknow. The project 'Azea Botanica' spread over 6.5 acres of land would be completed by 2016.
"We would construct 630 premium housing units in the project, but keep our flat prices affordable to buyers," AzeaGaia managing director Aniruddh Singh said here.
AzeaGaia is a joint venture between API and Global Assets & Investment Alliances. The project would offer 2/3 BHK apartments with price tags starting upwards of Rs 50 lakh.
"The UP realty market is developing fast and has lot of potential for premium and quality condominiums in suburbs," he noted. The company would soon launch affordable housing projects in Uttar Pradesh.