Tuesday, September 26, 2023
HomeNewsReal EstateAdore Group to invest Rs 200 crore in Gurugram project

Adore Group to invest Rs 200 crore in Gurugram project

The project will be based on the Greek lifestyle and will include a clubhouse spread across 60,000 sq ft. Adore Group expects to generate Rs 1,000 crore in revenue from the project, which will consist of 12 towers and over 700 units.

Adore Group has acquired 10.20 acre land in sector 77 and will develop a residential project with an investment of Rs 200 crore, a senior executive said.

“This is the first time in Gurgaon when a project will be based on the Greek lifestyle,” said Jetaish Gupta, Founder & Director, Adore Group.

The project will have a clubhouse spread across 60,000 sq ft.

The company expects Rs 1,000 crore revenue from the project, which will have 12 towers with over 700 units.

Adore has delivered 20 projects with a cumulative area of 10.11 million sq. ft.

Delhi-NCR is expected to see a record number of housing-unit launches around the upcoming festive season as multiple developers acquired land in the past six months, seeking to cater to rising demand for homes.

DLF, Godrej, L&T, TARC, Signature Global, and County group are among the developers that have planned launches in the second half of the year.

According to Cushman & Wakefield, residential launches in the first half were already more than double of previous year.

In the first half of the year, 10,963 residential units were launched in Delhi-NCR which is almost the number of units launched in 2019, which was 11,643.

SourceETREALTY
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