MRG World to invest Rs 350 crore on affordable housing project in Gurugram

NEW DELHI: Realty firm MRG World, which is into the development of affordable housing, will invest about Rs 350 crore to develop a project in Gurugram. The project, spread over 10 acres, comprises 1,334 units.

“The project will entail an investment of Rs 350 crore and will be developed in single-phase over a period of four years,” the company said in a statement.

The prices of housing units in the project ‘The Skyline’ are starting from Rs 25.26 lakh.

This is the company’s fourth affordable housing project. Three projects are under construction.

Vikas Garg, Deputy MD, MRG World, said the project cost would be funded through internal accruals.

MRG World Joint MD Rajat Goel said there is a huge demand for affordable housing projects in Gurugram, Haryana.

MRG World also has a presence in the Agri, financial and education sectors.