NCR-based Royal Green Realty will invest Rs 150 crore in developing a affordable housing project in Sector 62, Gurgaon.
The company will develop the project on 6-acre land and there will be a component of 50,000 sq ft of retail space.
“We will develop projects which are not available in that micro market. We realised there is no affordable housing project on the Golf Course extension road and decided that company’s first project in Gurgaon will be under that policy of Haryana government,” said Yashank Wason, Managing Director, Royal Green Realty.
The company, which has recently received RERA approval for the project, expects Rs 250 crore revenue from the project.
“The houses under the affordable policy are allotted by the government and developer has no control over it. The pandemic has given impetus to the sector and with buyer also getting subsidy benefit under the , the demand for house under this policy always remains high,” said Varun Makhija, Director, Royal Green Realty.
The company is also developing Royal Green Industrial Park project in Matan, Jhajjar, Haryana in 17.48 acres under the Haryana’s Enterprises Promotion Policy 2020 (EPP) that aims to establish the state as a competitive and favoured investment destination in the country.
In addition, company has planned more industrial and housing projects in PMAYGurgaon and other parts of Haryana.
