New Delhi: Real estate player Signature Global will invest Rs 200 crore in a span of four years for the development of an affordable housing project in Gurugram, it said in a statement.
“This will be our 11th affordable housing project in Gurugram. It will spread over 5.5 acre of land and will have 754 units,” said Signature Global chairman Pradeep Aggarwal.
The flats in this project will be will be sold in a price range of Rs 19.5-24.5 lakh. The flats will be sold by the realty firm under the supervision of Haryana government.
The investment will be made by the company through financing by banks and NBFCs. A part of the investment will also be by way of internal accruals.
There has been an uptick in demand of affordable house in the country, according to several property consultants. The government has also lowered the Goods and Services Tax on affordable homes to just 1 percent from 8 percent previously.