Ganga Realty has purchased 8.35 acres of land parcel in Sector 84 in Gurgaon for Rs 132 crore in order to create a luxury group housing project. The NCR based real estate company will invest an additional Rs 750-800 crore in the project’s development.
“On this project development, we will develop a total of 1.5 million square feet, of which 10.5 lakh square feet will be residential and 4.5 lakh square feet will be retail development.”
“We continue to look for land to expand our portfolio in the luxury and affordable housing segments,” said Vikas Garg, Ganga Realty’s Joint Managing Director.
Furthermore, Ganga Realty would invest Rs 750 crore in its Sohna Gurugram affordable housing project Tathastu.
The Tathastu project will span 22 acres of land that include around 2972 2BHK housing units. Ganga Realty’s first affordable housing development in Sohna Gurgaon with luxury amenities.
“Sohna is primarily an end-user driven market, so there has always been a consistent level of housing demand.” “The improved connectivity and amenities will help the project sell,” Garg added. The corporation intends to fund the complete project through internal accrual.