The company will spend Rs 750 crores to build an affordable housing project in one of the most lucrative realty hubs of Gurugram, Sohna. The project will be spread across 22 acres and will consist of approx. 2972 units. This will be Ganga Realty’s first affordable housing project.
New Delhi, March 14, 2023: Gurugram-based realty firm Ganga Realty has announced that it will invest Rs 750 crores to develop its first affordable housing, named ‘Tathastu’ in Gurgaon. The project is located in Sector 5, Sohna- Gurugram and is at 20-min distance from the proposed metro station. It will also share an easy connectivity with IGI Airport and KMP Expressway.
The company will develop 14 towers with around 2972 affordable units under the project. The project will offer 3 BHK apartments and its carpet area is 645.73 sq ft and the super area will be 1000 sq. ft. The 3BHK configuration units have been priced at Rs 25.14 lakhs in the project.
The project will be spread across approx. 22 acres. Its funding will come through several sources like internal monetary strengths and customer advances. Mr. Vikas Garg, JMD, Ganga Realty, has also announced that the company is completely ‘debt-free’. The company has also revealed that the project is ‘self-funded’ and is expected to be delivered by the first quarter of 2027.
The residential project will also comprise of several recreational amenities such as in-house commercial shops, elevated clubhouse, swimming pool, Kids Dedicated Area, Park along with many other amenities. There are also schools and shopping Malls and other facilities in the vicinity.
Mr. Vikas Garg, Joint Managing Director, Ganga Realty, said “Sohna is primarily an end user driven market and hence have always had a sustained level of demand. Looking forward to the vision of Housing for All, Homes in an affordable and mid segment budget is a must to fulfil the demand for housing in the country.”
According to the company, the project has received massive customer engagement within just two days of its launch. The project is oversubscribed and has received an overwhelming response.
He further added, “The project, though in the affordable category, will be built with the best of construction technology and will have all the world class amenities. The entire investment would be met through internal accruals and customer advances.”
Corporate Comm India (CCI Newswire)
