Ganga Realty acquires land for luxury and affordable housing projects
Real Estate

Ganga Realty acquires land for luxury and affordable housing projects

Ganga Realty, a real estate developer, has acquired 8.35 acres of land in Sector 84, Gurgaon, for ₹132 crore. The company plans to develop a luxury group housing project on the land, which will have a total built-up area of 1.5 million square feet. Of this, 10.5 lakh square feet will be residential and 4.5 lakh square feet will be retail.

The company will invest another ₹750-800 crore to develop the project. Ganga Realty is also planning to invest ₹750 crore in its new affordable housing project, Tathastu, in Gurugram. The project is spread across 22 acres and will consist of approximately 2,972 units. This will be Ganga Realty's first affordable housing project.

Vikas Garg, Joint Managing Director of Ganga Realty, said that the company would develop 1.5 million square feet on the project, of which 10.5 lakh square feet would be residential and 4.5 lakh square feet would be retail. He also said that the company continued to look for land to expand its portfolio in the luxury and affordable housing segments.

Garg added that Sohna was primarily an end-user driven market and hence had always had a sustained level of demand. He said that the improved connectivity would help the sale of the project.

The company plans to develop both projects from internal accruals.

Also Read
Srinagar smart city takes charge of parking zones in ITMS overhaul
Dahod demolition drive advances for smart city project

Ganga Realty, a real estate developer, has acquired 8.35 acres of land in Sector 84, Gurgaon, for ₹132 crore. The company plans to develop a luxury group housing project on the land, which will have a total built-up area of 1.5 million square feet. Of this, 10.5 lakh square feet will be residential and 4.5 lakh square feet will be retail. The company will invest another ₹750-800 crore to develop the project. Ganga Realty is also planning to invest ₹750 crore in its new affordable housing project, Tathastu, in Gurugram. The project is spread across 22 acres and will consist of approximately 2,972 units. This will be Ganga Realty's first affordable housing project. Vikas Garg, Joint Managing Director of Ganga Realty, said that the company would develop 1.5 million square feet on the project, of which 10.5 lakh square feet would be residential and 4.5 lakh square feet would be retail. He also said that the company continued to look for land to expand its portfolio in the luxury and affordable housing segments. Garg added that Sohna was primarily an end-user driven market and hence had always had a sustained level of demand. He said that the improved connectivity would help the sale of the project. The company plans to develop both projects from internal accruals. Also Read Srinagar smart city takes charge of parking zones in ITMS overhaul Dahod demolition drive advances for smart city project

Next Story
Real Estate

The Only Way is Up!

In 2025, India’s real-estate market will be driven by a confluence of economic, demographic and policy-driven factors. Among these, Boman Irani, President, CREDAI National, counts rapid urbanisation, the rise of the middle class, policy reforms like RERA and GST rationalisation, and the Government’s decision to allow 100 per cent FDI in construction development projects (including townships, housing, built-up infrastructure, and real-estate broking services).In the top metros, especially Bengaluru, followed by Hyderabad and Pune, the key drivers will continue to be job creation a..

Next Story
Building Material

Organisations valuing gender diversity achieve higher profitability

The building materials industry is projected to grow by 8-12 per cent over the next five years. How is Aparna Enterprises positioning itself to leverage this momentum and solidify its market presence?The Indian construction and building materials industry is projected to witness significant expansion, with estimates suggesting an 8-12 per cent compound annual growth rate (CAGR) over the next five years. This growth is fuelled by rapid urbanisation, increased infrastructure investments and sustainability-focused policies. With India's real-estate market expected to reach $ 1 trillion by 2030, t..

Next Story
Real Estate

Dealing with Delays

Delays have beleaguered many a construction project in India, hampering the country from building to its ability and potential, and leading to additional costs incurred by the contractor. The reasons for delayIn India, delays mainly occur owing to obtaining statutory approvals, non-provisioning of right of way, utility diversion and approval of drawings and design. Delays are broadly classified based on responsibility and effect. Excusable delays arise from factors beyond the contractor’s control, such as force majeure events or employer-induced delays. These delays generally entitle th..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?