CHD Developers' CHD Lifestyle Project completely sold out within 6 weeks

CHD Developers, one of India's leading real estate developers engaged in development of prime residential and commercial properties has announced that one of its latest projects, CHD Lifestyle, has been completely sold out within just 6 weeks of its launch making it a record of sorts considering the current slowdown in the real estate industry in India. CHD Lifestyle is an integral part of CHD Developers' Rs 500 crore mega project, CHD City at Karnal, Haryana. CHD Lifestyle comprised 138 residential units spanning an area of approximately 1,50,000 sq.ft. and its unprecedented success gives a clear indication that the real estate sector in India is bound for a quick revival.

According to Mr. R K Mittal, Chairman and Managing Director, CHD Developers, "We are extremely encouraged with the unparalleled success of our CHD Lifestyle project and would like to thank our customers for the trust that they have placed in our project and our delivery capabilities. Hundreds of investors have chosen to put their hard earned money in CHD Lifestyle because of its inherent strengths and our impeccable track record. The residential units at CHD Lifestyle were sold out within 6 weeks of its launch, on incredible feat in the present times, without a doubt."

It is Worth noting that this kind of success is not new to CHD Developers. Just a few months ago, one of the Company's commercial projects at CHD City, Karnal Business Centre (KBC), was completely sold out within just 5 months of the launch and this happened during the slowest phase of the Indian real estate industry. KBC offered prime shop-cum-office (SCO) commercial plots that a progressive business could construct upon as per its unique requirements for any commercial purpose.

The demand for both residential and commercial properties at CHD City underline the fact that the one of the finest private townships coming up in Karnal, Haryana, Located right on National Highway 1 and midway from Delhi to Chandigarh. The NH-1 is being widened into a 6-Lane Expressway and the work is expected to be completed by 2011, thus substantially reducing the travel time from Delhi to Chandigarh and to Karnal.

"We plan to set up more such world class townships in various cities of North India in the near future. CHD, with its high commitments, has become a synonym for perfection, innovation, customer satisfaction, transparency in development of high-end luxury and affordable projects that offer real value for money to the buyers. We are committed to provide homes in all accommodation categories to the customers." added Mr. Mittal

The estimated project cost of CHD City is Rs 500 Crores it comprises plots, affordable homes, row houses, independent villas, shopping malls, properties along with school, dispensary etc.

It is significant to note that CHD Developers has acquired full paid up licenses for the 123 acres land and has complete possession of the land. The company has also recently begun to hand over the possession to some of the plot buyers. The construction for Silver County Villas and the Lifestyle Floors at CHD City has already started.

Almost 25,000 families are expected to inhabit the CHD City, which is expected to emerge as the most sought after destination in Karnal as its residents will be able enjoy the best of amenities in finest dining, shopping, arts and entertainment, which include a malt, food court, hotel, clubhouse, commercial centre, offices, school, hospital, multiplex, dedicated play area for kids, jogging tracks, high speed internet broadband and Wi-Fi connectivity, 24-hour power backup and round-the-clock security.

"CHD CITY will surround its residents with features and amenities that thrill, soothe and inspire. Whether in their own space or in the areas they share with their neighbors, CHD residents will enjoy all the comforts of fine contemporary urban living," concluded Mr. Mittal.

CHD City will also feature world-class facilities at its clubhouse, which will include Swimming Pool, Lawn Tennis Courts, Badminton Courts Pool and Billiards Health Club, Steam, Sauna and Coffee Shop.

Even a 5-star hotel is supposed to come up in its vicinity which will further add to the marketability of the location. This area is right opposite to the Oasis landmark on the NH and is close to Karnal Lake and the golf course, which means that there will always be an abundance of greenery, making it a prime location. This fast developing area is, thus, emerging as the most happening suburb of Karnal.

CHD Developers Ltd has ushered in a new era of building projects for the residential as well as commercial sectors in northern India and has to its credit several residential complexes such as Gayatrilok at Haridwar, Sri Krishnatok at Vrindaban (M£thura) and CHD City, a residential township in Karnal. CHD has successfully delivered projects covering more than 700,000 sq. feet area and proposes to develop more than 10 million sq. ft. area in the next few years.

The stock was trading at Rs.5.80, up by Rs.0.07 or 1.22%. The stock hit an intraday high of Rs.5.90 and low of Rs.5.52.

The total traded quantity was 58666 compared to 2 week average of 71005.

Source : Equity Bulls

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