Omkar Realtors & Developers, a leading Mumbai-based real estate company, has announced the launch of a RERA compliant residential project on the Western Express Highway in Andheri-Jogeshwari.

Describing the project, which may see a total investment of about Rs 1,500 crore, as boutique and luxury housing, the company officials said it will be an attractive offering for the trading community and corporate professionals, among others.

The project, named Passcode Andheri Highway, consists of 1/2/3 BHK units with a ticket size ranging from Rs 87 lakh to Rs 1.6 crore, for 355 sq.ft to 710 sq.ft of carpet area.

Addressing a conference here today, Amar Tendulkar, President-design and architecture, Omkar Realtors, said, “The project, with a fair share of inventory in the sub-Rs 1 crore bracket, holds a strong attraction for pan-India customers and investors looking at buying in the country's primary realty market. Not only does this ticket size compare well with key southern markets, it holds attractive return on investment at the current pricing level.”

Buyers eyeing inventory in areas with upcoming infrastructure developments such as the upcoming metro and new link roads connecting the East-West corridors, will find this extremely attractive, Sumanth Kumar of Omkar Realtors said.

“As a leading developer known for Slum Rehabilitation and Development, we have carved a niche in the country with a number of projects. This is yet another project taken up on similar lines where people who have parted with land, get developed properties,” Tendulkar said.

The project investment of about Rs 1,500 crore is to met through internal accruals, debt and equity, and contribution from buyers.

Tendulkar said, “While we are a Mumbai-based developer, we are open to joint ventures in a city like Hyderabad, to take up new projects.”

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