The Top 50 Real State & Infra Company- RANK 19, Sobha Ltd, Ravi Menon, Chairman
Sobha Ltd, the developer of the premium residential property, is set to launch an affordable housing project in Bengaluru. The new project will come up on Thanisandra Road in North Bengaluru on an 18-acre land parcel. Property buyers will be eligible to claim benefits under PMAY Scheme.
In 2015, Bengaluru-based Sobha Ltd created a new segment – Sobha Dream Series – to mark its foray into affordable housing segment. The company launched Sobha Dream Acres, the first project under the new segment. However, the houses in this project are slightly bigger in size compared to the houses defined under the PMAY guidelines. They are also priced at a higher price range.
The firm also plans to raise up to Rs 700 crore through issue of debentures to meet its funding requirement for execution of real estate projects. It borrows money from banks and other FIs to execute residential and contractual projects.
In 2015, Bengaluru-based Sobha Ltd created a new segment – Sobha Dream Series – to mark its foray into affordable housing segment.