Realty firm Signature Sattva Infratech will invest 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 Gurugram-based firm has acquired a 27-acre land parcel at Alwar to develop 4,500 apartments in the two phases, said Parveen Aggarwal, the company’s founder and chairman.
The company will construct in this project a total of 4,500 units, of which 1,600 flats would be for economically weaker section (EWS) to be allotted by the Rajasthan government through draw.
The price for units meant for EWS category has been fixed at Rs. 7-10 lakh, he said, adding that the company would sell the remaining units at competitive market price.
Aggarwal said Signature Sattva is exploring opportunities for affordable housing projects in Rajasthan, Haryana, Punjab, Uttar Pradesh and Maharashtra.
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