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Signature Global to develop two affordable housing projects in Gurugram

Tuesday, 19 Nov 2019

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Signature Global will make an investment of Rs 400 crore to develop two affordable housing projects in Gurugram under a Haryana government scheme.

Delhi-based Signature Global is mainly into development of affordable housing and has launched 12 such projects, comprising over 11,000 units, so far, under the Haryana Affordable Housing Policy. Two projects having 1,800 units have been handed over to buyers.

The company will develop 'Aspire' and ' Prime' housing projects which will have a total of about 1,450 units. Each housing project is worth Rs 200 crore. Apart from projects under the Haryana Affordable Housing policy, the company has launched three projects under Deen Dayal Jan Awas Yojna at Karnal and Sohna in Gurugram.

The company has also entered into commercial real estate and is developing a shopping mall in Ghaziabad, Uttar Pradesh. Earlier, Signature Global had raised Rs 200 crore fund from private equity player KKR and Rs 150 crore from ICICI Prudential to fund its projects. It has also raised funds from HDFC.