Signature Global to invest Rs 1000 crore in six housing projects in FY’19

Gurgaon News

Real estate developer Signature Global has recently made an announcement to invest Rs 1000 crore in six housing projects in FY’19. These affordable housing projects will be located in Gurugram and Ghaziabad, as per the reports.

Elaborating on the above, Signature Global Chairman Pradeep Aggarwal said, “The Company is planning to launch five housing projects in Gurugram and one in Ghaziabad comprising 7,000 units in 2018-19. The total construction cost is estimated at around Rs 1,000 core,”

A few days back, the group has delivered their first affordable housing project ‘Solera’ in Gurugram comprising of 1000 units. “This project was launched in 2015.  We will hand over two more projects this fiscal comprising 1,800 units,” added Aggarwal.

The company which is major known for the development of affordable housing has earlier launched 9 projects in Gurugram comprising 9,400 flats under Haryana government’s affordable housing policy. These projects are priced in a range of Rs 15-25 lakh. The group has also started one housing project at Karnal in Haryana comprising 350 units. The company is constructing 2.5 lakh sqft of commercial area as per the rules in all these 10 projects.

Signature Global have also announced their plans to invest Rs 100 crore to develop its first shopping mall at Ghaziabad in Uttar Pradesh. The total saleable area of the mall will be 1 lakh sqft and is expected to be operational by the end of next year. It will also comprise of 80-rooms serviced apartments/suites that will be managed by a renowned hospitality firm.

In a latest release, the company said that it targets to build 1 lakh affordable homes in Haryana, UP, Rajasthan and Maharashtra by 2022.