Silverglades goes for ₹500-cr realty project in NCR

Silverglades has decided to invest ₹500 crore to develop a mixed-use real estate project in Gurugram. In the project the builder will develop 260 luxury apartments and 3 lakh sq ft of mixed-use commercial retail space as Hightown. Group CEO Anubhav Jain informed that the company is developing a new luxury housing project as there is limited availability of luxury housing units in the city. The company has already sold 25 per cent of inventories in the last three months as demand in the luxury housing segment has risen after the outbreak of the pandemic and now people are realizing the importance of homeownership. Larger apartments are being preferred by prospective home buyers. The real estate industry has faced a tough time during the last 3-4 years but the situation would improve for the better in the immediate future.