Smartworld Developers to invest Rs 1,200 cr in two Gurugram projects

25 Nov 2021 CW Team

Smartworld Developers will pump Rs 1,200 crore in improving two residential projects-Smartworld Gems and Smartworld Orchard in Gurugram.

The firm is eyeing sales of Rs 5,000 crore by March 2022 from these projects, of which it claims Rs 2,000 crore has been already attained. CEO of the firm, Vivek Singhal, told the media that they have clocked combined sales of Rs 2,000 crore on their recently begun low-rise offerings.

More than 70% of their patrons are first-time homebuyers between the age group of 28–33 years. They have set themselves a goal of Rs 5,000 crore by March 2022.

Situated in Sector 61, Smartworld Orchard is a low-rise development spread across 20.6 acres, including 2 and 3 BHK homes valued between Rs 1.37 to 1.94 crore. Smartworld Gems, on the other hand, is situated in Sector 89, New Gurgaon, and provides 2 and 3 BHK homes valued between Rs 72.5-89.5 lakh.

Supported by India Infoline, Piramal Group and the Bansal family, Smartworld Developers is aiming expansion in Noida, Mumbai region, Pune, Bengaluru, Goa and Hyderabad shortly. It aims at 2.5 crore sq ft of project development and will pump in Rs 8,000-10,000 crore in various residential projects in Gurugram.

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