+
Affordable housing: MRG World plans Rs 350 cr investment in Gurugram
Real Estate

Affordable housing: MRG World plans Rs 350 cr investment in Gurugram

MRG World Private Limited, a real estate developer based in the National Capital Region, will invest Rs 350 crore in an affordable housing project near the Dwarka Expressway in Sector 106, Gurgaon.

The project will be developed in a single phase over four years, spanning 10 acres.

According to Vikas Garg, Deputy Managing Director at MRG World, the affordable housing segment is getting a major boost after the Haryana Cabinet approved Amendment in Affordable Housing Policy-2013 Haryana Development and Regulation of Urban Areas Act 1975, which changes the minimum area limit, project area limit, increase in commercial component, and parking provisions.

The company is currently working on three projects in Gurugram Meridian at sector 89, Ultimus at Sector 90, and the Balcony at Sector 93, which it claims will be completed on time. The Pradhan Mantri Awas Yojna (PMAY) covers all three projects.

Garg added that the lack of a car parking space in the project was a stumbling block, and its inclusion will improve the appeal of the segment.

Although affordable housing is in high demand, many buyers have been hesitant to purchase land due to a lack of parking space. Having a parking space will therefore increase demand even more.

The project, which is part of the PMAY, has a total of 1,334 units, with prices starting at Rs 25.26 lakh for a 2 BHK.

According to Rajat Goel, joint MD of MRG World, affordable housing is a popular trend among property buyers these days. Gurugram has a wide range of affordable housing options, but it lacks amenities, which the new project will address.

Image Source


Also read: Affordable rental housing: DDA nods scheme under Delhi master plan

Also read: Smart Cities Mission brings together government schemes on affordable housing

MRG World Private Limited, a real estate developer based in the National Capital Region, will invest Rs 350 crore in an affordable housing project near the Dwarka Expressway in Sector 106, Gurgaon. The project will be developed in a single phase over four years, spanning 10 acres. According to Vikas Garg, Deputy Managing Director at MRG World, the affordable housing segment is getting a major boost after the Haryana Cabinet approved Amendment in Affordable Housing Policy-2013 Haryana Development and Regulation of Urban Areas Act 1975, which changes the minimum area limit, project area limit, increase in commercial component, and parking provisions. The company is currently working on three projects in Gurugram Meridian at sector 89, Ultimus at Sector 90, and the Balcony at Sector 93, which it claims will be completed on time. The Pradhan Mantri Awas Yojna (PMAY) covers all three projects. Garg added that the lack of a car parking space in the project was a stumbling block, and its inclusion will improve the appeal of the segment. Although affordable housing is in high demand, many buyers have been hesitant to purchase land due to a lack of parking space. Having a parking space will therefore increase demand even more. The project, which is part of the PMAY, has a total of 1,334 units, with prices starting at Rs 25.26 lakh for a 2 BHK. According to Rajat Goel, joint MD of MRG World, affordable housing is a popular trend among property buyers these days. Gurugram has a wide range of affordable housing options, but it lacks amenities, which the new project will address. Image Source Also read: Affordable rental housing: DDA nods scheme under Delhi master plan Also read: Smart Cities Mission brings together government schemes on affordable housing

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Suzuki Targets 4 mn Units in India by FY30, Builds Global Hub

Suzuki Motor Corporation plans to raise annual production capacity in India to approximately 4 mn units from fiscal 2030, strengthening the country’s role as a manufacturing and export hub for its global operations. The Japanese car maker announced the target as part of its Technology Strategy 2026, which outlines its development and manufacturing priorities for the coming decade. The company also aims to improve development efficiency by 30 per cent from the FY20 level and manufacturing efficiency by 50 per cent by FY30. It plans to halve the lead time required to develop new vehicles by im..

Next Story
Infrastructure Transport

Ayodhya Airport to Add Flights to Delhi, Bengaluru and Mumbai

Ayodhya airport will get additional direct air services to Delhi and Bengaluru from October 1, followed by a daily non-stop connection to Mumbai from October 30. The existing IndiGo service to Hyderabad is also being prepared for conversion into a daily operation, widening travel options from the temple city. Passengers travelling to Delhi will have two direct options at different times of day from October 1. Akasa Air flight QP 1608 will depart Ayodhya at 12:50 pm and arrive in Delhi at 2:20 pm, while Air India Express flight IX 1274 will leave at 2:10 pm and reach the capital at 3:45 pm. Ind..

Next Story
Infrastructure Urban

Cement Prices Rise Again in Himachal Pradesh

Cement prices in Himachal Pradesh have increased for the second time this month, raising construction expenses for households, contractors and other consumers. Cement companies raised rates by Rs. 5 per bag on Friday, 10 days after a similar increase was implemented on September 15. The two revisions have lifted prices by a total of Rs. 10 per bag within 10 days. Dealers Pawan, Rohit, Manoj and Rakesh said the latest rates were being applied across the market, adding to the financial pressure on people building or renovating homes. ACC Suraksha cement is now priced at Rs. 425 per bag, compared..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code