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
Infrastructure Energy

Mizoram To Build Rs 139 Billion Pumped Storage Power Plant

Mizoram Chief Minister Lalduhoma on Friday announced plans to construct a 2,400 MW pumped storage hydroelectric power plant in Hnahthial district, marking a major step towards achieving energy self-sufficiency in the state. Addressing the Mizo Students’ Union general conference in Hnahthial town, the Chief Minister said the plant would be developed across the Darzo Nallah, a tributary of the Tuipui river. Once operational, the project is expected to play a pivotal role in meeting Mizoram’s rising electricity demand and reducing dependence on imported power. Officials from the State Power..

Next Story
Infrastructure Energy

Centre Plans Nationwide Opening Of Power Retail Market

India is preparing to open up its retail electricity market to private companies nationwide, effectively ending the long-standing monopoly of state-run power distributors in most regions, according to a draft bill released by the Union Power Ministry on Friday. The move will enable major private sector players — including Adani Enterprises, Tata Power, Torrent Power, and CESC — to expand their presence across the country’s electricity distribution landscape. A similar reform attempt in 2022 had faced strong opposition from state-run distribution companies (discoms), which currently dom..

Next Story
Infrastructure Energy

CEA Sets 100 GW Nuclear Target For India By 2047

In a landmark step marking its 52nd Foundation Day, the Central Electricity Authority (CEA) unveiled an ambitious roadmap to develop 100 gigawatts (GW) of nuclear power capacity by 2047, aligning with India’s long-term Net-Zero commitment and energy security objectives. The event, held at the Central Water Commission auditorium in New Delhi’s R.K. Puram, was attended by Pankaj Agarwal, Secretary, Ministry of Power, who served as the Chief Guest. The roadmap sets out a detailed plan to expand India’s nuclear capacity from its current level of approximately 8,180 MW as of early 2025, outl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?