New Delhi: Realty player MRG World will invest Rs 200 crore in its newly launched residential project ‘The Meridian’ at Sector 89, Gurugram.
The project will be spread over 5.5 acres of land and it will have 755 units of 2BHK flats if different ranging from 533 sq ft to 633 sq. ft, the company said in a statement.
“We are targeting lower and mid-income groups for this and have priced the properties at the rate of Rs 4,000 -4,500 per sq. ft. It means the flats will be priced between Rs 21.7 lakh and Rs 25.8 lakh. The investment of Rs 200 crore will be met by internal accruals and also from sale proceeds from sale,” said Rajat Goel, Joint MD, MRG World.
The project is registered under Pradhan Mantri Awas Yojna (PMAY) and hence buyers can get a subsidy of up to Rs 2.67 lakh on the home loan interest.
The company is also constructing another residential project by the name of ‘The Balcony’ at Sector 93, Gurugram.