Gurugram’s real estate market is set for a significant boost as Signature Global, a leading real estate developer, has announced its plans to launch new housing projects worth a staggering Rs 6,000 crore. The launch is scheduled for the July-September 2024 quarter and will cover a sprawling 3.5-4 million square feet in Gurugram.
This ambitious move is a testament to the company’s confidence in the burgeoning demand for quality housing in the region. The new projects will cater to a diverse range of homebuyers, including both end-users and investors. The company has observed a particularly strong demand in the Rs 2-4 crore price segment, and it is likely that the new projects will offer a variety of options to meet this demand.
The upcoming launch follows a successful quarter for Signature Global, where they launched a housing project with a revenue potential of around Rs 3,500 crore. While the company saw a slight dip in pre-sales in the June quarter, they remain confident in their ability to achieve their sales target of Rs 12,500 crore for the current fiscal year.
This confidence is further bolstered by the company’s strong track record. Signature Global has already delivered 14.6 million square feet of real estate and has another 10.4 million square feet currently under construction. To fuel their expansion plans and refinance existing debt, the company is also looking to raise Rs 875 crore through non-convertible debentures.
The Gurugram real estate market has been witnessing a steady upswing, and Signature Global’s massive investment is poised to further accelerate this growth. With a focus on quality construction and timely delivery, the company has carved a niche for itself in the affordable and mid-segment housing market. This new launch is expected to not only enhance their portfolio but also provide a significant impetus to the real estate sector in Gurugram.
Source :- ET
