Jaylaxmi Corporation plans to set up Residential Complex Project in Gujarat

Jaylaxmi Corporation intends to build a new residential complex phase II at Solsumba, Valsad, Gujarat. The project is projected to cost roughly 61 crores and will have a capacity of 10 residential complexes. The project will include 1,000 apartments, with a mix of 1BHK, 2BHK, and 3BHK units. The apartments will be developed on a 100-acre tract of land. The project is scheduled to be finished by the end of 2025. Jaylaxmi Corporation is a prominent real estate developer in Gujarat. The company is working on several projects in Ahmedabad, Surat, and Vadodara. 

The new residential complex phase II project is part of the company's ambition to increase its presence in the Valsad neighbourhood. The project is being funded through a combination of loan and equity. A consortium of banks led by the State Bank of India is arranging the debt financing. Jaylaxmi Corpn's promoters are providing the equity money. Jaylaxmi Corpn has made a significant investment in the new residential complex phase II project. 

The project is designed to accelerate the company's growth and position it as a leader in Gujarat's residential real estate industry. Here are some additional details about the project: The project will be located in a prime location in Solsumba, Valsad. The project will have all the amenities, such as a swimming pool, gym, children's play area, and a clubhouse. The new residential complex phase II project is a sign of the growing demand for residential real estate in Gujarat. The project is also a vote of confidence in the Gujarat economy.

As of September 2023, The project is now in the stage of construction being started the work on the project will be finished in 2024, 2025 or 2026 It has been decided to hire a local contractor.

News by Rahul Yeligetti