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Signature Sattva to infuse Rs 500 cr on housing project in Rajasthan

Tuesday, 13 Aug 2019
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Realty company Signature Sattva Infratech will make an investment of Rs 500 crore over the next four years to develop its first project in Alwar, Rajasthan under the state government’s affordable housing policy.

The company has acquired 27 acre land parcel at Alwar to develop 4,500 apartments in two phases. The company will develop about 37 lakh sq ft area in this 27 acre project. The company will construct in this project a total of 4,500 units, of which 1,600 flats will be for economically weaker section (EWS) to be allotted by the Rajasthan government through draw.

In Phase-I the company will sell flats in the price range of Rs 14-20 lakh. The total cost of the project is Rs 500 crore. The land cost is fully paid and the company will take construction finance from banks.

The company is exploring opportunities for affordable housing projects in Rajasthan, Haryana, Punjab, Uttar Pradesh and Maharashtra. The company has ventured into real estate business with affordable housing project because there is a decent demand in this segment on the back of incentives offered by the Centre for low-cost housing.

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