Investment of Rs 425 Crore for Signature Global Karnal Housing Project
Signature Global Karnal Housing Project: Signature Global, which is into affordable homes, said it will develop a low-rise housing project, comprising 2,100 units, at Karnal in Haryana with an investment of about Rs 425 crore.
This will be the company’s first project outside Gurugram. Signature Global has launched 9 affordable housing projects, comprising about 9,400 units in Rs 15 to 25 lakh price range, in Gurugram in the last three years of operations. All projects are under the Haryana Affordable Housing scheme.
2,100 low rise apartments in Karnal will be built in two phases under the Haryana Government’s Deen Dayal Awas Yojana, the first phase of 6.5 acre has been launched while the 30 acre second phase will be launched in early 2018.
Earlier this year, Signature Global got Rs 200 crore funding from private equity player KKR. The Delhi based firm had last year raised Rs 150 crore from ICICI Prudential. The company is one of the key stakeholders of financial investment firm SMC Group.
The company need development of more affordable housing units to achieve Housing for All. They have already launched 9 projects in Gurugram and Sohna and now they are expanding to other cities as well.
With affordable housing segment getting infrastructure status in this year’s budget, the real estate developers are focusing on low-cost homes. The government is also providing interest subsidy on loans for affordable housing.
Source Link- https://economictimes.indiatimes.com/industry/services/property-/-cstruction/signature-global-to-invest-rs-425-crore-on-karnal-housing-project/articleshow/61067975.cms