Ganga Realty To Invest Rs 750 Cr To Construct Affordable Housing Project

Ganga Realty will invest Rs 750 crore to construct an affordable housing project in Gurugram.

The firm will build 2,972 apartments in the new 'Tathastu' project, which will span 22 acres in Sector 5, Sohna-Gurugram. The unit is priced starting at Rs 25 lakh.

“The company will invest Rs 750 crore in the development of an affordable housing project,” Ganga Realty stated in a statement.

The total project cost, according to Vikas Garg, Joint Managing Director of Ganga Realty, is Rs 750 crore, which will be financed through internal accruals and customer advances.

The project is set to be completed in the first quarter of 2027. Garg said that Sohna is mainly a market driven by end users.

Signature Global, a real estate company, is a market leader in the affordable housing segment in Gurugram.

According to property consultant Anarock, sales of residential properties in Gurugram will more than double to 32,617 units by 2022 due to increased demand across all price groups, including affordable, mid-income and luxury.

During the fiscal year 2021, Gurugram's housing transactions totalled 15,590 units.

Overall, housing purchases in the Delhi-NCR increased by 59 per cent to 63,712 units in 2022, up from 40,053 units the previous year.