News

Check out market updates

Signature Global to Create 21 Million Square Feet of Affordable and Mid-Income Housing in 6-7 Years

Signature Global to Create 21 Million Square Feet of Affordable and Mid-Income Housing in 6-7 Years

Signature Global is all set to launch its initial public offering on 20 September. The company is going to develop 19 affordable and mid-income projects in Gurugram and adjoining areas, like Sohna Elevated Road, Manesar, etc. 

Delhi-NCR-based top real estate developers Signature Global is all set to develop residential projects. This comprises around 21 million square feet (MSF) in the next six to seven years, said Chief Executive Officer (CEO), Rajat Khaturia. 

The company is all set to launch as an IPO on September 20 which is going to develop  19 affordable and mid-income projects in Gurugram and adjoining areas like Sohna Elevated Road, Manesar, etc. 

The company is going to develop 21.29 million square feet of affordable housing for the mid-income segment over 379.07 acres of land. This land is going to be developed in the next six to seven years, which is roughly around 217 acres which is already under development in our existing projects, Khaturia said. 

The company is also going to develop affordable housing for the mid-income segment. According to the Affordable Housing Policy, 2013 of Haryana, the per square foot (PSF) rate for apartments under this scheme is capped at Rs 5,200. 

The public issue is going to have new shares worth rs 603 crore and it is also going to include an offer-for-sale (OFS) of rs 127 crore worth of shares belonging to the International Finance Corporation. The price band is all set rs 366-385 per share and the issue is going to start on September 20. This is also going to close on September 22. 

The company’s objective should not take more than 18 months to launch a project after the land has been bought. Khaturia also added that the location, the three main areas where the project will come up are Gurugram sectors 37D, 71, and areas along the Sohna Elevated Road. The project along the Sohna Elevated Road is going to comprise a total area of about 138 acres. In sector 38D, it is around 25 acres while in sector 71 it is more likely to be around 40 acres. 

He further said that Signature Global also uses aluminum foam sheets which is also going to reduce the cost of construction and it also helps make homes affordable. 

He further added that the company has no plans to expand to other states, and other areas of Delhi NCR like Noida, Faridabad, Greater Noida, etc.

Ashiana-Mulberry-Blossom-Luxury-Apartment-Sector 2-Sohna-New-Popup-02-05-2024

Register For Project Site Visit

We don’t share your personal info with anyone. Check out our Privacy Policy for more information.