Signature Global decides to invest Rs 385 crore over the next three years to develop a new housing project in Gurugram, Haryana. The national capital-based company has bought 17.35 acre land at Sohna for nearly Rs 100 crore and will construct 864 independent floors in two phases. It will sell units from this new housing project in Gurugram in a price range of Rs 39-74 lakh. Signature Global mainly focuses on affordable housing and is currently constructing 10 such projects, comprising around 9,500 units, under Haryana government’s affordable housing policy.
One project comprising 1,000 units have been delivered to home buyers. The company has started a new housing project ‘Signature Global Park’ in Sohna, Gurugram. The construction work has already begun.
The project cost is estimated at Rs 385 crore, which will be met through internal accruals, advances from customers and bank/NBFC debt. This will be the company’s third project under Haryana government’s Deen Dayal Jan Aawas Yojna. It is already developing two housing projects comprising 1,974 units at Karnal, Haryana, under this scheme.