Kolkata-based housing and real estate developer Eden City Group is set to mark its foray into Odisha soon.
The company has started looking for land for project development in the State and is expected to announce the launch shortly.
This would be the first FDI-funded property development project in Odisha as UK-based F&C REIT Asset Management Company has a major stake in the Eden City Group, vice-president Biswadeep Gupta told mediapersons here on Thursday.
The company introduced its ongoing large housing projects like Eden City Maheshtala in Kolkata to aspiring customers of Odisha.
The Rs 500-crore project spanning 22 acres with 2,000 apartments in 40 towers is being developed in two phases. While the Phase I, with 27 towers and around 1,500 flats has been completed and is in the stage of possession, the Phase II is ready to go under construction.
The Phase II would have 13 towers with around 500 flats. The prices for the flats are between Rs 24 lakh and Rs 45 lakh. Possession of Phase II would be delivered from December 2014.
The company also announced launch of Empower Plan supported by HDFC Bank wherein buyers will have to book their flats by paying 20 per cent and pay the rest of the EMI only after they are given possession.
“Hence, it provides the buyers with an opportunity to earn appreciation of the entire property value by investing only 20 per cent,” Gupta said.
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