Leading real estate firm, Vatika group has recently announced to invest about Rs 8,000 crore to develop a 224-acre township project in Gurugram over the next seven years. The project name- ‘Vatika India NEXT2’ will comprise of 15,000 housing units and 6.5 million sq ft of commercial space.
As per the company officials, the housing units to be sold in the project will come under the Pradhan Mantri Awas Yojana so that prospective home buyers become eligible for incentives under Credit Linked Subsidy Scheme (CLSS).
Alok Mehta, Head Product Strategy, Vatika Ltd., said, “Vatika India NEXT 2 is our under-construction township which is spread over 224 acres. It will have a total 15,000 units out of which 2,250 units have been launched and are under-construction,”
He further said that the investment to develop this entire township would be around Rs 8,000 crore which will be funded through equity and the project is expected to be completed by 2025.
The company is selling flats in a price range of Rs 7,000-10,000 per sq ft and plots at over Rs 50,000 per sq yard. Currently, Vatika group is already developing a 700-acre township ‘Vatika India NEXT’ in Gurugram. The project comprises of 8,000 flats/plots and 3.3 million sq ft of commercial space and is developing with an investment of Rs 6,000 crore.
Vatika Group entered the real estate sector in 1986 with an aim to create spaces that enable you to focus on the things you consider important – whether it is building a business, growing a family, connecting with friends, or simply finding the time and space to pursue your dreams.
The group has delivered 42.3 million sq ft of development, which includes 35.7 million sq ft residential and 6.6 million commercial developments.