Realty firm Trehan Group on Tuesday said it will invest Rs 250 crore to develop 320 luxury independent floors in Gurugram.
The company, which has developed many projects in Alwar, Bhiwadi, Tapukara, Neemrana, Navi Mumbai and Faridabad, is entering into Gurugram real estate market with launch of 320 independent floors over 80 plots around Golf Course Extension Road in Gurugram.
The group will invest about Rs 250 crore to develop these 320 independent floors at multiple locations across Gurugram, Trehan Group Chairman Harsh Trehan said.
The independent floors will be built on plot sizes of 217 square yards to 676 square yards. Floors are priced in the range of Rs 1.27 crore to Rs 4 crore.
"During this COVID-19 pandemic, we have witnessed a decent surge in demand for plotted development and independent floors. To cater to this rise in demand, we are launching these independent floors across various sectors in Gurugram," he said.
"The builder floors segment was so far a fragmented market. We believe that it is time to organize this segment, given the rise in demand from home buyers," Harsh added.
These low-rise floors are expected to be delivered in 15 months.
Trehan said the company is targeting to sell all the 320 units in the next few months, riding on pent up and festival demand coupled with very low interest rates on home loans.
The company is also offering flexible payment plans to customers.
Trehan Group has delivered over 10 million square feet of residential real estate since 1989. It has completed 16 projects and so far delivered more than 12,000 units.
