Signature Global Limited will invest Rs 550 crore for developing Phase II of its housing project in Gurugram.

In May, Signature Global, the real estate firm which focuses on building affordable housing projects, had fundraised long-term capital of Rs 400 crore from HDFC Capital’s real estate fund.

The company told the media that it would construct 864 independent floors in Phase II, the same as Phase I.

The company said that the overall cost for Phase II of this project is Rs 550 crore. Further, it added that the independent floors would be sold between Rs 62-72 lakh.

Chairman and Director of Signature Global (India) Limited, Pradeep Aggarwal, said that the demand for independent floors has increased in the past two years.

The projects, including Signature Global Park 4 and 5, will be developed under the Deen Dayal Jan Awas Yojana (DDJAY) of the Haryana state government.

Earlier, Signature Global has launched over 30 housing projects, especially in Gurugram, Sohna and Karnal in Haryana. From these, seven projects have already been delivered to the buyers.

The company has even launched commercial real estate projects in Vaishali and Ghaziabad in Uttar Pradesh.

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