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

05 Aug 2021 CW Team

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

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..