Gurugram-based real estate firm Ganga Realty plans to invest ₹1200 crore in a luxury housing project in Gurugram. The project is expected to generate close to ₹2000 crore in revenue, the company said in a statement on July 1.
The project spread across an area of 5 acres in Gurugram’s sector 85 will include three towers, one of them being the tallest residential tower in the city with a ground-plus-59 storey building. This is expected to be completed in the next five years, the company said.
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The company said that it will invest ₹1200 crore to develop an uber-luxury residential project, named Anantam in Sector 85, Gurugram. The project is located close to Dwarka Expressway, the Global City project, NH-8, and is at a 20-minute driving distance from IGI Airport.
The company is planning to achieve a sales target of ₹2000 crore from this project, the company said.
Ganga Realty will fund the construction of the project through internal accruals and customer advances. This will be the company’s second luxury housing venture in the city, the company said.
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“The project mirrors our aspirations of promoting sustainable living made possible through the utilization of smart and calibrated technologies,” said Vikas Garg, joint managing director, Ganga Realty.
The project will feature 3 and 4 BHK apartments along with a servant’s quarter and a utility room. The project will comprise 524 units and the price range will start from ₹16,500 per sq ft. The unit sizes of 3 BHK units will be 2392 sq ft and 4 BHK units will be 3101 sq ft, it said.
“We will be delivering the project in the next five years,” he added.
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