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MRG World to pump Rs 200 cr to build affordable housing project

In November 2019, MRG World started its second affordable housing project

MRG World, Affordable housing, Gurugram, Haryana, Ultimus, Balcony, Affordable Housing Policy, The Meridian

Realty firm MRG World will make an investment of Rs 200 crore to develop its new affordable housing project in Gurugram, Haryana in the affordable price category of Rs 23-27 lakh.

MRG World has launched a new residential project 'Ultimus' in Gurugram. The company will construct 720 apartments in this project and will spread over five acre.

The selling price has been fixed at Rs 4,000 per sq ft and will be priced between Rs 23.4 lakh and Rs 26.8 lakh. The project will entail an investment of Rs 200 crore, which will be met by internal accruals and the proceeds from sale. The construction work has already commenced and the project will be delivered by 2023.

In its first housing project 'Balcony' that was launched in June 2019, the company is developing 731 apartments in Gurugram under the Affordable Housing Policy of the Haryana government.

In November 2019, MRG World started its second affordable housing project 'The Meridian' in Gurugram. The company will develop 755 units in this 5.5 acre project.

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