With affordable housing segment getting infrastructure status in this year’s budget, the realty firm Signature Global as part of its expansion plan in low cost housing segment launched two projects — comprising 1,900 units which will be constructed over the next four years.

To develop two new affordable home project in Gurugram will be making investment of Rs 400 crore.

The project cost will be funded through internal accruals and funds or Rs. 200 Cr raised from private equity player KKR which the company got it last month.

Besides KKR, the Delhi-based firm had last year raised Rs 150 crore from ICICI Prudential.

In affordable housing, the government is also providing interest subsidy on loans.

The projects have been launched after registering them with state regulator under the new Real Estate (Regulation and Development) Act.

Signature Global will build 1,448 units in ‘The Millennia’ project and another 448 units in ‘Solera-2’ project.

The company’s chairman and co-founder Pradeep Aggarwal said that the demand for affordable housing is increasing each day. They had launched 7,405 affordable units in 7 projects and with the new launch of the two projects, they have added 1,900 more units. Now, they would be developing over 9,300 units under 9 projects all under the Haryana affordable housing policy.

The selling price has been fixed at Rs 4,000 per sq ft of carpet area. The apartments will be sold through a draw in a price range of Rs 20-25 lakh.

Ravi Aggarwal, Managing Director & co-founder, said that supporting the cause of Housing for All and celebrating National Housing Day, they have announced the participation in draws online by purchasing the booking form for Rs 1,000 and just paying 5 percent of the total unit cost.

The company plans to launch around 20,000 more affordable units in the future.

here is company details.

 

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