MRG World to invest Rs 350 cr in new housing project in Gurugram
Noida: Realty player MRG World will invest Rs 350 crore in its affordable housing project in ‘The Skyline’ at sector 106 in Gurugram. The project will be spread over 10 acres of land and the company claims it has received 2,500 applications on the first day.
The project will have 1,334 flats and it comes under Pradhan Mantri Awas Yojna (PMAY). The prices of the properties will start from Rs 25.26 lakh for 2BHK and 3 BHK. The size of the flats are 623.193 square feet and 622.116 square feet.
“The Affordable Housing segment is getting a major boost with the Haryana Cabinet's approval of Amendment in Affordable Housing Policy-2013 Haryana Development and Regulation of Urban Areas Act 1975 for change in Minimum Area Limit, Project Area Limit, Increase in Commercial Component, and Parking Provisions. The project's lack of a car parking space was a hindrance, and the inclusion will improve the segment's appeal. Despite the fact that affordable housing has the highest demand, many buyers have been unwilling to purchase owing to a lack of parking space; therefore, with parking space, demand will increase even more,” said Vikas Garg, Deputy MD, MRG World.