Signature Global to invest Rs 400 cr in new housing project at Gurugram

Realty firm Signature Global will invest Rs 400 crore over the next four years to develop a new affordable housing project in Gurugram, Haryana.

The company will build 832 independent floors in this project located at Sohna Road, Gurugram, Haryana, Signature Global said in a statement.

This is the company”s 22nd real estate project. In last five years, Signature Global, which is mainly into affordable housing, has launched nearly 18,000 flats at Gurugram and Karnal in Haryana.

The new project ”Signature Global Park 4 and 5‘‘ will be developed under Deen Dayal Jan Awas Yojna at an estimated cost of around Rs 400 crore, the statement said.

The company will sell units at Rs 4,500 per sq ft.

Signature Global Chairman Pradeep Aggarwal said: “In the post COVID-19 situation people have realised the importance of their own home and aspire to buy a property to feel secure and safe. The government policies are going to support buyers in securing a good property while the home loan interest rates are also very low.”

The government is promoting affordable housing in a big way by charging only one per cent GST and interest subvention under the Credit Linked Subsidy Scheme (CLSS).

Last month, Signature Global had said it would invest Rs 225 crore to develop a project, comprising 852 units, under the Haryana government”s affordable housing policy.

Besides housing, it has also launched commercial projects, including a shopping mall, in Vaishali and Ghaziabad (Uttar Pradesh), comprising over 7.5 lakh square feet area. PTI MJH MKJ

Source : Outlook India