MRG World to invest Rs 350 crore in affordable housing project In Gurgaon

MRG World, one of the affordable housing major in Delhi NCR, has announced the launch of its fourth project ‘The Skyline’ in Dwarka Expressway at Sector 106. Spread over 10 acres, the project will entail an investment of Rs 350 crore and will be developed in single ph

BY Realty Plus
Published - Friday, 06 Aug, 2021

MRG World to invest Rs 350 crore in affordable housing project In Gurgaon

MRG World, one of the affordable housing major in Delhi NCR, has announced the launch of its fourth project ‘The Skyline’ in Dwarka Expressway at Sector 106. Spread over 10 acres, the project will entail an investment of Rs 350 crore and will be developed in single phase over a period of four years. For the first time in Gurugram’s affordable housing, a project is coming up with car parking/sports arena and swimming pool. The company informed that it has received more than 2500 applications on the first day itself. With a total of 1334 units, the prices of the project that comes under Pradhan Mantri Awas Yojna (PMAY) are starting from INR 25.26 lakh for 2BHK, and for 3 BHK. Located on Dwarka Expressway, the size of the units are 623.193 sq.ft and 622.116 sq ft. As the project is registered under PMAY, homebuyers can avail a subsidy of up to Rs. 2.67 Lacs on home Loan Interest. Talking about the car parking in their affordable project, Vikas Garg, Deputy MD, MRG World, said, “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.” The company has three under construction projects in Gurugram, which it says it will deliver before time. The Meridian’ at sector 89, Gurugram, ‘Ultimus’ is at Sector 90, and The Balcony at Sector 93, Gurugram. All the three projects are under registered under Pradhan Mantri Awas Yojna (PMAY). Rajat Goel, Joint MD, MRG World, “Affordable housing is a popular trend among property buyers these days. It's always icing on the cake when you can get a property for a reasonable price while still getting high-end features and services. Gurugram has a lot of affordable options, but it lacks in terms of amenities, which our new project will fill.”