Andlay Estates takes stake in residential project in Nainital, targets Rs 350 cr housing sales

The project, Bhowali Valley Chalets, has 2, 3 and 4-bedroom chalets located in Bhowali at a distance of 11 kilometres from Nainital.

Andlay Estates takes stake in residential project in Nainital, targets Rs 350 cr housing sales
The financial details of the transaction were not disclosed due to non-disclosure agreements.

Andlay Estates, one of the leading real estate consultancies in India, has taken a stake in a residential project in Bhowali, Nainital. The project, Bhowali Valley Chalets, has 2, 3 and 4-bedroom chalets located in Bhowali at a distance of 11 kilometres from Nainital, which is at an elevation of 1,654 meters (5,426 feet).

The project is owned by AGV Experiential Habitat LLP.

The unit sizes are from 1,435 – 2,700 sq ft and are inspired by the concept of living in the hills away from the hustle and bustle of a city life, air and noise pollution and traffic jams. The project is spread over 10 acres and is being developed in two phases.

The financial details of the transaction were not disclosed due to non-disclosure agreements.

Talking about this development, Abhishiekh Andlay, founder, Andlay Estates, said, “We are very happy to take up stake in this amazing project and are confident that this will become one of the most sought after housing projects in Nainital and is witnessing solid demand from end users. Lots of buyers from Delhi NCR are looking to buy their second homes in the hills to get away from the fast-paced city life and pollution.”

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“We are happy to partner wth Andlay Estates for our project as their expertise in sales and marketing is unparalleled. We believe this project will become one of the most sought after projects in the vicinity as the amenities offered, construction quality and overall ambience is not available anywhere in the region,” said Vineet Vohra, Founder, AGV Experiential Habitat.

The Gurgaon-based company earlier said that it is targeting Rs 350 crore home sales in 2022.

The company is looking to expand operations and hire resources in marketing and sales department. Andlay Estates is a real estate channel partner for top Indian developers and has strict selection process to partner with only those developers who are fundamentally strong.

The real estate sector in the country has been witnessing tremendous growth since the last 4-6 quarters with appreciation of over 10-15% in the housing projects, especially the premium and luxury housing.

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