NEW DELHI (INDIA): Real estate company Sikka Group has raised Rs 230 crore from a leading Indian bank for three of its housing projects Sikka Karnam and Sikka Kaamna in Sector 143 on Noida Expressway and Sikka Kimaantra in Sector 79 in Noida.
The amount raised would be utilised towards speeding up the construction of the mentioned projects, two of which along the Noida Expressway are already in the advance stages of completion. Where as Sikka Kimaantra is also in full swing and will be delivered post the delivery of Sikka Karnam & Sikka Kamna.
Sikka Karnam which is spread in 10 acres and Sikka Kaamna which is spread in 12.5 acres are set to start the delivery by the last quarter of this year and have approximately 1247 and 1710 units respectively and Sikka Kimaantra has approximately 364 dwelling units and is spread across 5 acres.
Speaking on accruals, Gurneet Singh Sikka, Director, Sikka Group said, “Our focus has always been to deliver on whatever we promise to our customers. On similar lines, we are also planning to raise funds for our other projects so that we can deliver them on time as well. The total saleable area which will be delivered through the accrual of these funds is close to 45 Lakh Sq. Ft. which will be the abode of over 3300 families. Partial disbursement of the funds has been done recently and the remaining instalments would soon follow.”