In order to add more thrust to the housing sector of Ghaziabad, Real Estate firm SG Estates has decided to invest Rs 250 crores to develop 800 flats at Siddharth Vihar, in Ghaziabad. These flats will be constructed on a vast area of 3.5 acres.
Director of SG Estates, Gaurav Gupta said, “This is our 14th project in Delhi-NCR. We have all the necessary approvals to develop this project, including registration with the real estate regulator.” He further said that the construction work will start soon. The firm has decided to fix the basic selling price (BSP) at Rs 4,200 per sq ft.
As per the latest information placed before RERA, the cost of the project is about Rs 250 crores and it will be funded through internal accruals, sales proceeds, and bank funding.
Gaurav Gupta further said that due to Delhi-Meerut expressway, NH-24 has widened up a lot and this provided a major boost to the property market of Siddharth Vihar. Apart from this, infrastructural developments, such as metro connectivity and link road between NH-24 and NH-58 have attracted many home buyers towards this area in recent times. In future, Siddharth Vihar has all the capabilities to better known as an extension of Indirapuram in terms of connectivity and livability quotient.
Founded in 1986, SG estates have its expertise in developing Residential and Commercial Real Estate projects. The company is all set to hand over 500 residential units to their homeowner in its project ‘SG Grand’ at Raj Nagar Extension. They have two other ongoing projects in the Ghaziabad region namely ‘SG Oasis’ in Vasundhara and ‘SG Benefit’ in Govindpuram.