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Signature Global answers surging demand: Housing project to rise in Gurugram
The Business Guardian
|February 13, 2024
Real estate company Signature Global has joined forces with the landowner to undertake a housing project spanning 20 acres in Gurugram, with an estimated revenue potential of Rs. 4,500 crore, aligning with its expansion strategy. Under a Joint Development Agreement (JDA), Signature Global has secured 20.32 acres of land located in Sector 71, Southern Peripheral Road, Gurugram.The total development potential on this land is 28.4 lakh square feet of residential space.
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Signature Global Chairman Pradeep Aggarwal said the potential sales realisation would be around Rs 4,500 crore in this upcoming project.
With a surge in housing demand after the Covid pandemic, real estate developers have been acquiring land outright as well as partnering with landlords to expand their businesses.
Earlier this month, Signature Global had announced the signing of three separate JDAs with landlords to develop housing projects on a total 21.38 acres land parcels.
The combined development potential in volume terms is 32 lakh square feet of residential space.
Recently, Signature Global reported a consolidated net profit of Rs 2.17 crore for the quarter ended December.
Dit verhaal komt uit de February 13, 2024-editie van The Business Guardian.
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