Signature Global, RMZ Form JV For Gurugram Project

31 Mar 2026 CW Team

Signature Global (India) has secured an investment of Rs 1,293 crore from RMZ Group, with RMZ acquiring a 50 per cent equity stake in Gurugram Commercity Limited (GCL), earlier a wholly owned subsidiary of the company.

Post-transaction, both partners have formed a 50:50 joint venture to develop a large mixed-use commercial project on Southern Peripheral Road (SPR), Gurugram, comprising office, hotel and retail components.

The companies, along with Millennia Realtors (an RMZ entity), have executed a Securities Subscription and Purchase Agreement (SSPA). RMZ has acquired its stake through a mix of share purchase and subscription.

The project will have a Floor Space Index of 3.94 million sq ft and marks Signature Global’s entry into large-scale commercial development within its existing land portfolio, signalling a strategic diversification.

The partnership combines Signature Global’s execution capabilities and NCR market expertise with RMZ’s strengths in design, leasing and asset management of commercial developments.

The development is expected to achieve a total capital value of Rs 14,000–16,000 crore upon completion, positioning it among the larger mixed-use projects in the region.

Pradeep Aggarwal, Founder & Chairman, Signature Global (India), said, “Today represents a significant milestone in Signature Global’s growth as we expand our development portfolio with this large-scale mixed-use project. The successful closing of this transaction and the receipt of RMZ’s investment further bolsters our financial standing and reinforces the market's confidence in our execution capabilities. The Southern Peripheral Road has consistently evolved into a premier hub for both residential and commercial growth, backed by robust infrastructure and seamless connectivity.

This partnership with RMZ unites our complementary strengths and deep domain expertise, allowing us to deliver a high-quality, future-ready development. As our inaugural commercial project of this magnitude, it reflects our unwavering commitment to creating long-term value and providing best-in-class developments for our customers and stakeholders.”

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