Signature Global plans to develop a 194.22-acre ultra-luxury farmhouse villa destination in Gurugram West, marking its entry into the segment. The project will have about 6.77 mn sq ft of developable potential and an estimated gross development value of Rs. 55-60 bn.

The transaction includes an outright purchase of 25 acres for Rs. 1.5 bn and a joint collaboration agreement covering the remaining 169.22 acres. The development is planned as a low-density private enclave with expansive spaces, enhanced privacy, greenery and lifestyle facilities for a select community of residents.

The project is located in the Farrukhnagar area of West Gurugram, near the Dwarka Expressway and KMP Expressway. Signature Global Chairman Pradeep Aggarwal said the availability of open land and the area’s connectivity created an opportunity to approach luxury housing differently, with the environment, exclusivity and experiences forming an important part of the offering.

Infrastructure development in the region is also expected to support the project. A four-lane upgrade of the Farrukhnagar-Gurugram road is being undertaken at a cost of Rs. 3.65 bn, while the National Highways Authority of India is progressing alignment plans for the proposed Gurugram-Farrukhnagar-Jhajjar highway.

In Q1 of the current fiscal, Signature Global reported sales bookings of Rs. 19.7 bn. The company said it held a 13 per cent market share in the National Capital Region and a 20 per cent share in Gurugram in the Rs. 20 mn to Rs. 50 mn price range. The announcement was made after market hours, and the company’s shares ended Friday flat at Rs. 788.55 on the Bombay Stock Exchange.