Signature International purchased 16 acres of land in Gurugram to construct premium homes, know the whole plan – INA NEWS

Signature International Share: Actual property firm Signature International has bought 16.12 acres of land for about Rs 300 crore to develop a housing undertaking in Gurugram. The corporate is bullish on the demand for mid-income and premium residential properties. This land is in Southern Peripheral Highway, Sector 71, Gurugram, Haryana. Shares of Signature International India Restricted fell 4.47 % on Friday and closed at Rs 1250.25.

Assertion from Chairman of Signature International

“We have now bought 16 acres of land in Gurugram for the event of a premium residential undertaking,” stated Pradeep Kumar Agarwal, chairman of Signature International. He stated that the full improvement potential on this undertaking can be round 27-28 lakh sq. ft space.

When requested about the price of the land, Aggarwal stated that the full funding in buying the land is round Rs 300 crore. He stated that the corporate had earlier entered right into a joint improvement settlement with the land proprietor, however has now canceled it and bought the complete land. Aggarwal stated that the corporate has bought this land from inside sources as the corporate is producing working surplus.

Signature International will proceed to search for land within the Delhi-NCR area. The corporate intends to enter the housing markets of Noida and Larger Noida, increasing its footprint from Gurugram, the place it has a major market share.

‘Demand for mid-income and premium housing robust’

Aggarwal stated demand for mid-income and premium housing stays robust. In the identical month, Signature International had reported a greater than two-fold enhance in gross sales bookings to Rs 2770 crore. The corporate had offered property value Rs 1260 crore in the identical interval a 12 months in the past.

Agarwal attributed the rise in gross sales bookings to buyer confidence within the firm. Signature International achieved gross sales bookings of Rs 7,270 crore in FY 2023-24 and has set a goal of Rs 10,000 crore within the present monetary 12 months.

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