Signature Global to invest Rs 4,800 cr on new housing project in Gurugram

Realty firm Signature Global will invest Rs4,800 crore to develop a luxury housing project in Gurugram as part of its strategy to expand business amid strong consumer demand.

The company, which emerged as the fifth-largest listed realty firm last fiscal in terms of sales bookings, has recently launched a new project, 'Sarvam at DXP Estate', spread over 13.56 acre.

The project, located on Dwarka Expressway, Sector 37D in Gurugram, will have 1,798 apartments.

In the first phase, the company is offering 50 per cent of the total units for sale in a price range of Rs 3-4 crore per unit.

"The total investment in the development of this project is estimated at around Rs 4,800 crore," Signature Global founder and Chairman Pradeep Aggarwal told PTI.

The company will meet the investment largely through internal accruals, which include advances from customers.

The construction works will start soon, and the project is expected to be completed by 2032.

Aggarwal highlighted that the company is focusing on sustainability and wellness elements in this project, which will also be Indian Green Building Council (IGBC) Platinum certified.

Signature Global has onboarded many wellness and lifestyle brands in this project, including the Michael Phelps Swimming Academy.

The launch of this project is expected to help the company achieve its annual sales bookings target of Rs 12,500 crore.

Gurugram-based Signature Global sold properties worth Rs 10,290 crore during the last fiscal.