Ganga Realty to invest Rs 750 cr to build affordable housing project
Real estate firm Ganga Realty will invest Rs 750 crore to build an affordable housing project in Gurugram.
The company will develop 2,972 apartments in new project 'Tathastu', which is spread over 22 acres in Sector 5, Sohna-Gurugram. The price of the apartment starts from Rs 25 lakh.
''The company will spend Rs 750 crore to build an affordable housing project,'' Ganga Realty said in a statement.
Vikas Garg, Joint Managing Director of Ganga Realty, said the total project cost is Rs 750 crore and this will be funded through internal accruals and customer advances.
The project is expected to be delivered by the first quarter of 2027.
Garg noted that Sohna is primarily an end user driven market.
In affordable housing segment, realty firm Signature Global is a leading player in the Gurugram market.
According to property consultant Anarock, sales of residential properties in Gurugram jumped over two-fold to 32,617 units during 2022 on higher demand across all price categories — affordable, mid-income and luxury.
Housing sales stood at 15,590 units in Gurugram during 2021 calendar year.
Overall, housing sales in Delhi-NCR rose 59 per cent to 63,712 units in 2022 from 40,053 units in the previous year.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)