Realty firm Signature Sattva Infratech in a recent development has planned to invest ₹500 crore to develop its first project in Alwar, Rajasthan, under the state government's affordable housing scheme. The Gurugram-based firm has acquired a 27-acre land parcel at Alwar to develop 4,500 apartments in two phases, said founder and chairman, Parveen Aggarwal. Prior to this, he was the co-promoter of Delhi-Based Signature Global, which is into affordable housing segment and constructing about dozen projects in Gurugram, Haryana. The company has forayed into the real estate sector with a maiden project at Alwar covering a 37 lakh sq ft area in this 27-acre project. It will construct a total of 4,500 units, of which 1,600 flats would be for the EWS, which will be allotted by the Rajasthan government through a draw. The EWS units will be priced at ₹7-10 lakhs, while the remaining units will be sold at competitive market prices. In the first phase, the company will sell the flats in the price range of ₹14-20 lakhs.
📅Published on:
16 August 2019
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