Real estate news on SARE Homes launches Gurgaon project at lower price

New projects, Real Estate services, Residential Properties, Delhi-Gurgaon, SARE Homes, Olympia housing
Posted on Aug 10, 2015

Bengaluru: Real estate firm SARE Homes on Wednesday launched its Olympia housing project in Gurgaon, pricing 1,295 sq. ft three-bedroom flats at an all-inclusive Rs.90 lakh, sharply lower from the Rs.1.5 crore at which it had sold similar homes a year and a half ago.

The company has also added easier payment schemes to attract buyers for the 330 apartments in the project located at Sector 92.

SARE Homes, part of London-based asset management firm Duet Group, has launched the 17-acre sports-oriented project at a time when most developers in the national capital region (NCR) are struggling to sell premium homes.

“We are launching a project after almost one and a half years, when we had priced the homes at about Rs 1.5 crore. Today, the biggest issue in the market is the ticket price and we wanted to address that,” managing director Vineet Relia said over the phone.

Customers are also given the option to pay 10% at the time booking and nothing more till possession. Olympia is part of SARE Homess 70-acre township.

Weak investor sentiment, inventory pile-up and slow sales have crippled NCRs property market, the largest in the country.

During the course of the year, SARE Homes is planning to launch projects in Ghaziabad, Chennai, Panvel and Indore, Relia said.

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