Omaxe announces allotment of plots at PDA - Omaxe City, Patiala

Chandigarh, 13th November, 2007: Omaxe, one of India’s leading real estate companies with footprints in 30 towns and 9 states, today initiated draw of lots for the plots at PDA - Omaxe City at Patiala. Strategically located at Sirhind Road, Baran, connecting G.T Road with Ludhiana and Amritsar, PDA Omaxe City presents an incomparable township advantage in tandem with the ongoing multifarious infrastructure developments around the city.

The allotment will take place in four phases beginning November 13 with draw of lots of 200sq yards smaller sized plots followed by the draw of 251 square yards, 350 square yard, 400 square yard, 500 square yard, 800 square yard, 1000 square yard and 1350 square yard plots over the next three days. The possession of the plots will be given in approx. 24 months from the date of allotment.

The project for which the foundation stone was laid in December last year, received an overwhelming response from public with over 10563 applications as against 1579 plots. This was seven times the total number of plots offered. PDA-Omaxe City is the first Public Private Partnership (PPP) initiative of Patiala Urban Development Authority (PDA) with Omaxe. Omaxe will undertake the implementation of project involving the designs, development, financing, construction, marketing, sale, operation and maintenance of the project.

Speaking on the occasion, Mr. Rohtas Goel, Chairman and Managing Director, Omaxe Ltd said, "PDA Omaxe city has the unique advantage of fulfilling the aspirations of the investors and end users, who seek an advantageous location coupled with quality construction & affordable range of price. This is possible only because of Omaxe’s specialization & experience in providing state-of-the-art construction within reasonable budget along with their dedication to adhere to quality control & specific time schedule".

"PDA Omaxe city, the proposed big-leap township will lead to a sea-change in the city’s economy providing ample job opportunities, further leading to the regions economic growth," Mr Goel added.

The sprawling PDA Omaxe City, will comprise of world class IT Park, Bio-tech Park and residential complexes including multi storyed condominium and plotted houses. The integrated township will also have Shopping Mall, expansive Commercial Spaces, Gym and health club, Institutional area, In-house club with swimming pool, games, sports, & banquet hall, Educational Campuses, Hospital and many more international standard infrastructure of its own, complemented by green and pollution free environs.

Source : Equity Bulls

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