PTI reported that real estate major Unitech recently said that it will invest INR 20 billion this fiscal 33% more than last year in construction of new projects, mostly housing, across the country.

The announcement comes a day after the Reserve Bank increased the short term lending rate which may make home loans costlier by up to 1% point.

Unitech has also fixed a target to achieve a 20% growth in sales booking this fiscal to about INR 55 billion as it plans to launch more projects this year in cities where it is already present as well as new locations.

It is reported to have a land bank of about INR 7,500 acres across the country.

(Sourced from PTI)