Omaxe Expands Indore Footprint with Mega Township Plan
Real estate giant Omaxe Ltd has acquired 450 acres in Indore to construct a township with a Rs 1,200 crore investment. This development, expected to generate Rs 2,500 crore over three years, includes residential, commercial, and hospitality spaces, marking another step in Omaxe's Tier-II city expansion.
- Country:
- India
Omaxe Ltd, a prominent player in India's real estate sector, has acquired 450 acres of land in Indore, Madhya Pradesh, marking a significant move to establish a township in Tier-II cities.
The company announced an investment of Rs 1,200 crore in this project, which is poised to generate Rs 2,500 crore in revenue within three years. Plans include residential plots, commercial spaces, retail areas, and hospitality facilities.
Omaxe, with a presence in 30 cities across eight states, entered the Madhya Pradesh market in 2005 and has since completed numerous projects. This new venture builds on its established footprint, with a notable land bank of about 1,170 acres across Indore, Ujjain, and Ratlam.
(With inputs from agencies.)
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