+
Royal Green Realty to infuse Rs 150 cr in affordable housing project
Real Estate

Royal Green Realty to infuse Rs 150 cr in affordable housing project

Royal Green Realty based in National Capital Region (NCR) to invest Rs 150 crore in the development of an affordable housing project in Sector 62 of Gurgaon.

They will be developing this project on a land parcel of 6 acres, there will also be a 50,000 sq ft component of retail space.

Royal Green Realty Managing Director Yashank Wason, said the company will develop projects not available in the micro-market. They realised that there are no affordable housing projects on the extension road of the Golf Course and that their first Gurgaon project is going to be under the policy of the Haryana government.

The company has recently received approval from Real Estate Regulatory Authority (RERA) for its project, and it is expected to generate a revenue of 250 crore from the project.

Royal Green Realty Director Varun Makhija said that the houses under this affordable policy will be allotted by the Haryana government and the developer does not have any control over it. The pandemic gave impetus to this sector and with buyers getting subsidy benefits under the Pradhan Mantri Awas Yojana (PMAY), the housing demand under the policy stands high.

The company has been developing the Royal Green Industrial Park project located in Matan, Jhajjar, Haryana spread across 17.48 acres under the Enterprises Promotion Policy 2020 (EPP) of Haryana aiming to establish Haryana as a competitive as well as a favored investment destination in India.

Image Source

Also read: IIFL HFL inks $68 mn loan with ADB to fund affordable green housing

Royal Green Realty based in National Capital Region (NCR) to invest Rs 150 crore in the development of an affordable housing project in Sector 62 of Gurgaon. They will be developing this project on a land parcel of 6 acres, there will also be a 50,000 sq ft component of retail space. Royal Green Realty Managing Director Yashank Wason, said the company will develop projects not available in the micro-market. They realised that there are no affordable housing projects on the extension road of the Golf Course and that their first Gurgaon project is going to be under the policy of the Haryana government. The company has recently received approval from Real Estate Regulatory Authority (RERA) for its project, and it is expected to generate a revenue of 250 crore from the project. Royal Green Realty Director Varun Makhija said that the houses under this affordable policy will be allotted by the Haryana government and the developer does not have any control over it. The pandemic gave impetus to this sector and with buyers getting subsidy benefits under the Pradhan Mantri Awas Yojana (PMAY), the housing demand under the policy stands high. The company has been developing the Royal Green Industrial Park project located in Matan, Jhajjar, Haryana spread across 17.48 acres under the Enterprises Promotion Policy 2020 (EPP) of Haryana aiming to establish Haryana as a competitive as well as a favored investment destination in India. Image Source Also read: IIFL HFL inks $68 mn loan with ADB to fund affordable green housing

Next Story
Infrastructure Urban

Naidu Seeks Rs 563 Crore For AP Sports Infrastructure

Andhra Pradesh Chief Minister N Chandrababu Naidu has sought Rs 563 crore from the Centre to boost sports infrastructure in the state, including Rs 538 crore for stadium development and Rs 25 crore to host the Khelo India Martial Arts Games 2025. Naidu made the request during a meeting with Union Youth Services and Sports Minister Mansukh Mandaviya in New Delhi on Wednesday.The CM urged early completion of Khelo India infrastructure projects in Tirupati, Rajahmundry, Kakinada, and Narasaraopeta, and called for an international-standard badminton training centre and a national aquatic sports hu..

Next Story
Infrastructure Transport

Tough Bidding Norms Slow NHAI Road Project Awards

Stringent bidding rules imposed by the Ministry of Road Transport & Highways (MoRTH) have led to a slowdown in project awards by the National Highways Authority of India (NHAI), despite a robust Rs 3.5 trillion pipeline. According to an HDFC Securities report, the shift to more cautious developer models now favours firms with strong balance sheets, as tighter qualification norms limit aggressive bidders.The revised norms mandate additional performance security, targeting the exclusion of players that previously submitted low bids—often 25 to 40 per cent below NHAI cost estimates—raisin..

Next Story
Infrastructure Transport

Mumbai Gets Coastal Nod for Next Promenade Phase

As Mumbai prepares to open two major sections of its expansive seafront promenade this week, the city’s civic authority has secured a key coastal clearance to advance further construction. The Maharashtra Coastal Zone Management Authority (MCZMA) has approved the commencement of work on the segment between Haji Ali and Baroda Palace, with tendering expected soon after project cost assessments.The promenade, stretching 7.5 km in length and 20 metres wide, is being designed as a flagship open space for walkers, joggers, and cyclists. Two critical stretches—2.75 km from Tata Garden to Haji Al..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?