Real estate developer Royal Green Realty has acquired 74-acre land in Gurugram, Jhajjhar, Faridabad and Indore (Madhya Pradesh) and will develop Affordable Housing projects with an investment of Rs 800 crore.
“There is an acute shortage of quality affordable residential units, to meet the existing housing need. Aligned with the vision of PMAY-2022, we want to reduce some amount of the demand and supply gap and cater to the middle income segment, while keeping our focus on quality and innovation. We also feel that the Indian real estate sector has reached a stage where professionalism and customer-centric approach become critical,” said Yashank Wason, Director, Royal Green Realty.
As part of Phase I the company will be setting up its residential, commercial and industrial development projects in the cities of Gurugram, Jhajjar, Faridabad and Indore.
“We aims to combine the in depth knowledge of Indian real estate markets with the execution strength and best business practices, we will play a significant role in this leap and with the launch of Royal Green Realty we would be able to cater to the masses in the country,” said Varun Makhija, Director, Royal Green Realty.
Source : ET