SRINAGAR: Eyeing to establish international standards in housing, real estate firm 8 Boundaries Builders is set to complete their first housing project, Safa Valley, in the state by March.
“We have already completed 75 percent of construction which started in 2015 and we are likely to complete this project by the end of this year or by March 2018,” Aamir Suharwardy, General Manager of the company said Saturday.
The 140 Crore project, Safa Valley, is a apartment type housing colony coming up in Bathindi area of Jammu. It consists of five towers of 12 stories that accommodate 348 apartments. “We felt the need to start our project in Bathindi because of the market survey, we found that most of the people from Kashmir prefer to live in the area because it has a favorable atmosphere,” he said adding, “99 percent of the booking so far has been done by Kashmiris.”
The firm said that they have already sold 60 percent of the apartments, available in 1, 2, 3 bedroom-hall-kitchen flats and penthouse.
The builders said the Safa Valley has been designed by a New Delhi based leading architectural designing company.
“Our project is just 7 kilometers away from main bus-stand Jammu. We are providing several facilities within Safa Valley such as departmental store, library and saloon,” the sales manager of the company said.
At a joint press-conference to talk about the tie-up between Jammu and Kashmir Bank and 8 Boundaries Builders for providing easy housing loans in the project, Vice President Strategy and Business Development and Lead Bank, Rakesh Gandotra said, “Aimed growing urbanization J&K Bank has renewed its focus on the housing sector in the state, thus providing hassle free finance for housing needs of our customers through such tie-ups.”
Suharwardy added that the company has not made any compromise in terms of quality at any stage of the construction.
“Our buildings can bear a earthquake shock of around on 8.0 on Richter scale,” he said.