Affordable Housing Projects to Introduce 60000 Residences across Haryana

Affordable Housing Projects to Introduce 60000 Residences across Haryana

The slow growth of real estate market, that barely witnessed new projects, got a surprise recently. The numbers of affordable housing have pushed up suddenly. Several projects are launched under Affordable Housing Policy of Haryana Government. Some of the prominent developers in Gurgaon launched 60000 units in this scheme are Signature Global, Adani Realty and Tulip Infratech. Over 57000 apartments of up to 400 sq. ft. to 600 sq. ft. are available for sale in the state. This affordable housing policy may attract middle class group earning around Rs. 40000 per month on average.

The real estate projects are positioned in well-developed sectors like Sector 103, Gurgaon. The prices of these apartments are almost similar to the market value of other projects nearby. But super area is offered to the consumers, instead of carpet area. A lot of affordable projects in Gurgaon are located in flagship sectors from 58 to 115 under Sohna Urban Development Plan and Gurgaon-Manesar Urban Complex 2031. The directorate of country and town planning in the city has issued 35 licenses so far to the developers for the area spreading over 202 acres. Around 9 licenses have been issued among them in Sohna.

Adani Realty has introduced affordable real estate project in Haryana under Aangan brand in Sector 88A to Sector 89A. The project head, Sanjiv Tyagi claims that the developer has introduced over 838 units under this scheme and awaiting environmental clearances. They are also willing to add further 300 residences to the same project and applied for further licenses. They are also looking forward to launch other projects in this segment. Recently, Signature Global also raised Rs. 150 Cr to introduce another housing project from ICICI Prudential Fund, Orchard Avenue in Gurgaon. With this project, they are offering around 729 1BHK and 2BHK units from Rs. 13.8 Lakh to Rs. 22.17 Lakh for Rs. 4000 per sq. ft. Chairman and Co-Founder, Pradeep Aggarwal, Signature Global Group admits that they have around 7500 homes under pipeline in Gurgaon. The developer has launched projects in Sectors 71, 81, 93, 103 and 107. We are planning to introduce four projects in this segment.