Accommodation. (Representative photo)
Ganga Realty will develop 302 apartments spread over 8.33 acres in Gurugram
Real estate developer Ganga Realty on Monday said it will invest over Rs 1,000 crore to develop ‘Nandaka 84’, a luxury housing project in Haryana’s Gurugram. As part of this, the company will develop 302 apartments spread over 8.33 acres.
The housing project will be completed by 2028. Vikas Garg, joint managing director of Ganga Realty, said the investment of over Rs 1,000 crore will be financed through internal savings.
Apartments and penthouses start at Rs 4.05 crore In March this year, Ganga Realty announced an investment of Rs 750 crore to develop an affordable housing project in Gurugram.
The company is developing 2,972 apartments in its project ‘Tathastu’, spread over 22 acres in Sector 5 of Sohna-Gurugram. Apartment prices start from Tk 25 lakhs. Demand for luxury homes in Gurugram has increased in the last two and a half years.
To tap this demand, many real estate developers are building luxury residences in Gurugram. DLF Ltd will launch two luxury housing projects worth Rs 15,000 crore in Gurugram in the second half of this financial year.
Vikas Garg, Joint Managing Director, Ganga Realty said, “We have received a tremendous response for our first luxury project in Gurugram. Due to several factors like strategic connectivity, multiple access points and growing appetite for uber-luxury accommodation, we are deeply grateful that our project has received unanimous appreciation from all.”
Recently, Mumbai-based Oberoi Realty bought land in Gurugram to develop an ultra-luxury housing project.
According to real estate consultants, Delhi-NCR witnessed a two-fold increase in sales of luxury homes priced above Rs 1.5 crore during January-September this year on good demand and supply.
6,210 luxury homes were sold from January-September last year.
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