The Sare Gurugram group housing project is now under the control of KGK Realty (India) Limited and Dhoot Infrastructure Projects Limited. This development brings great news for more than 1200 homebuyers, as the consortium has already taken steps to transfer possession of the properties.
Spanning across a vast 47-acre area, the Sare Homes complex offers a total of 4 million square feet of residential space. Additionally, a second 17-acre block of property holds the potential for further development, adding 2 million square feet of residential space by the end of 2024.
Unfortunately, the delivery of homes faced significant delays, ranging from 3 to 8 years, after Sare Gurugram Private Limited entered the Corporate Insolvency Resolution Process (CIRP) in March 2021. This project, situated in Sector 92, Gurugram, had initially begun construction back in 2011.
However, the tides have now turned in favor of the eager homebuyers. The delivery of units has commenced, bringing joy to those who have patiently awaited their dream homes since 2011. Eka Life Ltd. founder, Ajay Munot, assures that the remaining work will be completed within the allocated 18 months. The consortium has already injected 140 crore rupees into the initiative to facilitate the progress.
Piyush Dhot of Dhoot Infra expressed their deep understanding of the aspirations and dreams of first-time homebuyers in Gurgaon. He emphasized that their primary objective has been to ensure that the hopes of over 1200 homebuyers at Sare Gurugram are fulfilled.
Throughout the CIRP phase, the consortium has taken up the role of development manager and dedicated concerted efforts to revive the project. They have strategized to begin the construction of the residential development on the remaining 17 acres of land after the completion of the Dwarka Expressway work. However, until then, their utmost priority remains the prompt delivery of units to the homeowners, as reiterated by Ajay Munot.
Source- ET
