SIH Mulls IPO, Unveils Housing Project In Lucknow

Lucknow: Sahara Infrastructure and Housing (SIH), the real estate company of Sahara India Parivar, is mulling to go public and get listed on the stock exchange in the next two years. Spread on an area of 200 acres in Lucknow, Sahara City Homes Lucknow is one of the biggest real estate projects of the city with 5,255 residential units. The estimated worth of Lucknow township is Rs 2,000 crore. The township is the first one from Sahara City Homes townships, which SIH will be developing in 217 cities across India.
They are the largest landowners in the country with total land acquisition of around 20,000 acres across India. The land acquisition process is in progress with acquisition being complete in 8-10 cities, and partly completed in 30-40 cities. The construction at these Homes is in full swing and the possession of property will start in 2009 for Lucknow City Homes. A total of 30 blocks are under construction. These 30 blocks will house 1,620 residential units. Once 5 per cent is booked and they have all the required sanctions in place, then we ask for 15 per cent of the said amount. The aim of these townships is to provide an exclusive living environment, whether through facilities at par with international standards or by presenting the experience of a unique lifestyle.