JMS Group to Invest Rs 400 Crore in New Gurugram Housing Project

Realty firm JMS Group plans to invest Rs 400 crore in a group housing project in New Gurugram's Sector 95. The project, spread over 8.65 acres, will consist of around 450 units and is expected to generate nearly Rs 1,000 crore in revenue upon completion.

Realty firm JMS Group on Monday announced its decision to invest Rs 400 crore to develop a group housing project in Gurugram.

The company has secured 8.65 acres of prime land in Sector 95, New Gurugram, for the project. It aims to develop approximately 450 housing units in this venture.

JMS Group anticipates revenues of around Rs 1,000 crore from the completed project. An investment of Rs 400 crore has been allocated for its construction.

Pushpender Singh, Managing Director of JMS Group, mentioned that acquiring the land is part of their business expansion strategy. Singh stated, "This endeavour highlights our commitment to creating sustainable and contemporary living environments."

Construction will commence following the necessary approvals. To date, JMS Group has launched six housing and two commercial projects. The demand for housing in Gurugram and nearby areas has surged in the past three years, along with significant price increases.

(With inputs from agencies.)