Rs 200 cr investment for affordable project in Gurugram

NCR-based realty firm Signature Global will invest around Rs 200 crore over the next four years to develop its 11th affordable housing project at Gurugram, a top company official said.The firm has launched 10 projects in Gurugram comprising 9,700 flats under Haryana government’s affordable housing policy. It has so far delivered one project having 1,000 units.

“We have started construction work on our 11th affordable housing project spread over 5.5 acre and comprising 754 units,” company’s chairman Pradeep Aggarwal said recently. The company will sell flats in a price range of Rs 19.5-24.5 lakh through draw system under the supervision of the state government officials. 

“We have already received over 2,800 applications from prospective customers,” he added. On investment, he said the project cost is estimated at around Rs 200 crore, which will be met through internal accruals and bank/non-banking financial company funding.

Aggarwal said the company is focusing on the development of affordable housing projects, which is being promoted by the government. The group is also developing two housing projects comprising 1,974 units at Karnal, Haryana, under the Deen Dayal Jan Aawas Yojna.   PTI