Ganga Realty to invest Rs 750 cr to build affordable housing project
Real Estate

Ganga Realty to invest Rs 750 cr to build affordable housing project

Ganga Realty will invest Rs 750 crore to construct an affordable housing project in Gurugram.

The company will build 2,972 apartments in the new 'Tathastu' project, which will span 22 acres in Sector 5, Sohna-Gurugram. The apartment is priced starting at Rs 25 lakh.

"The company will invest Rs 750 crore in the development of an affordable housing project," Ganga Realty stated in a statement.

The total project cost, according to Vikas Garg, Joint Managing Director of Ganga Realty, is Rs 750 crore, which will be funded through internal accruals and customer advances.

The project is set to be completed in the first quarter of 2027.

Garg stated that Sohna is primarily a market driven by end users.

Signature Global, a real estate firm, is a market leader in the affordable housing segment in Gurugram.

According to property consultant Anarock, sales of residential properties in Gurugram will more than double to 32,617 units by 2022 due to increased demand across all price categories, including affordable, mid-income, and luxury.

During the fiscal year 2021, Gurugram's housing sales totaled 15,590 units.

Overall, housing sales in the Delhi-NCR increased by 59% to 63,712 units in 2022, up from 40,053 units the previous year.

Also Read
Adani Krishnapatnam Port records highest coal loading
Adani Group suspends work on $4 bn coal-to-PVC plant

Ganga Realty will invest Rs 750 crore to construct an affordable housing project in Gurugram. The company will build 2,972 apartments in the new 'Tathastu' project, which will span 22 acres in Sector 5, Sohna-Gurugram. The apartment is priced starting at Rs 25 lakh. The company will invest Rs 750 crore in the development of an affordable housing project, Ganga Realty stated in a statement. The total project cost, according to Vikas Garg, Joint Managing Director of Ganga Realty, is Rs 750 crore, which will be funded through internal accruals and customer advances. The project is set to be completed in the first quarter of 2027. Garg stated that Sohna is primarily a market driven by end users. Signature Global, a real estate firm, is a market leader in the affordable housing segment in Gurugram. According to property consultant Anarock, sales of residential properties in Gurugram will more than double to 32,617 units by 2022 due to increased demand across all price categories, including affordable, mid-income, and luxury. During the fiscal year 2021, Gurugram's housing sales totaled 15,590 units. Overall, housing sales in the Delhi-NCR increased by 59% to 63,712 units in 2022, up from 40,053 units the previous year. Also Read Adani Krishnapatnam Port records highest coal loading Adani Group suspends work on $4 bn coal-to-PVC plant

Next Story
Technology

We’re building robots that flow, not just move

Founded in 2021, Flo Mobility is reimagining construction automation with vision-AI robots designed for seamless movement through complex sites. In conversation with CW, Manesh Jain, Founder & CEO, discusses the company’s origin, its LiDAR-free tech stack, and expansion plans in the Middle East and US.What inspired the name Flo Mobility? Why ‘Flo’ and not ‘Flow’?When we started the company in 2021, our focus was on building autonomous navigation systems for robots. Since our work centred around robot movement, ‘mobility’ naturally became part of the name. We wanted to co..

Next Story
Real Estate

We’re committed to setting benchmarks in sustainable luxury living

From a landmark land acquisition in Boisar to ambitious launches across the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru and Pune, Birla Estates is driving future-ready growth with a strong focus on sustainability, partnerships and premium living, firmly anchored in its LifeDesigned® philosophy. K T Jithendran, Managing Director & CEO, outlines the company’s premium, sustainable growth playbook in conversation with PRATAP PADODE, Editor-in-Chief, CW. Excerpts:Birla Estates recently acquired a 70.92-acre land parcel in Boisar, Maharashtra, for..

Next Story
Infrastructure Urban

Mumbai’s land crunch and ageing homes call for structured renewal

Founded in 2022, Etonhurst Capital Partners is a real-estate fund management platform focused on the Indian market. As the firm achieves the first close of Rs 1.8 billion for its debut Rs 5 billion fund, Bamasish Paul, Co-founder, Managing Partner & CEO, discusses its sharp focus on redevelopment-driven value creation in Mumbai’s urban core with CW. Excerpts:Etonhurst Capital has achieved a significant milestone with the first close of Rs 1.8 billion for its Rs 5 billion fund. What factors contributed to this early success and how do you plan to attract further investments to r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?