Signature Global to invest Rs 225 cr in affordable housing project in Gurugram

Realty firm Signature Global will invest Rs 225 crore over the next four years to develop a new affordable housing project in Gurugram, Haryana.

The project, comprising 852 units, will be developed under the Haryana government’s affordable housing policy.

Signature Global said in a statement that the project cost is estimated at Rs 225 crore.

The selling prices of the units range from Rs 14.46 lakh to Rs 25.80 lakh.

“The demand for affordable housing has increased manifold. The realisation of the importance of one’s home has dawned on people while staying and working from home, as many of them have faced challenges,” Signature Global Group Founder & Chairman Pradeep Aggarwal said.

In the last five years, the company has launched around 20 affordable housing projects in Gurugram, Sohna and Karnal (Haryana).

It has also launched commercial projects, including a shopping mall, in Vaishali and Ghaziabad (Uttar Pradesh), comprising over 7.5 lakh square feet area.

The government is promoting affordable housing in a big way by charging only 1 per cent GST and interest subvention under the Credit Linked Subsidy Scheme (CLSS).

Source : HT