Smartworld to Invest Rs 1,200 crore in Two Gurgaon Projects

Realty developer Smartworld will invest Rs 1200 crore in developing the two residential projects in Gurugram and targets Rs 5000 crore sale by March 2022.

Smartworld Gems and Smartworld Orchard, two low-rise project by Smartworld Developers have clocked combined sales worth Rs 2,000 crore within two weeks of the launch.

Located at Gurugram’s Sector 61, Golf Course Road (Extn), Smartworld Orchard is a low-rise luxury residential development spread across 20.6 acre comprising 2 and 3 BHK homes priced between Rs 1.37-1.94 crore.

The Gurgaon Metropolitan Development Authority (GMDA) is planning to revamp the Golf Course extension road. The proposed revamp is aimed at ensuring a signal free and seamless traffic movement, making it a 10 min drive from Cybercity.

Smartworld Gems is located at Sector 89, New Gurgaon, comprising 2 and 3 BHK homes priced between Rs 72.5-89.5 lakh.

“We have set ourselves a target of Rs 5000 crore by March 2022, and this first step gives us more conviction that we have the right pulse of our customers. The response we are receiving is the result of our unique product offerings, prime locations and product design. Over 70% of our patrons are first-time homebuyers between the age group of 28–33 years. These are aspirational millennials who wish to have a certain kind of lifestyle and furthermore, have realized the significance of owning a home post COVID-19,” said Vivek Singhal, CEO, Smartworld Developers.

Backed by India Infoline, Piramal Group and the Bansal Family, Smartworld Developers will initially focus on the NCR market with ergonomically designed homes and spaces for the millennial nuclear families – to live, work and play the ‘smart’ way.

It is also eyeing expansion in key real estate markets such as Noida, Mumbai MMR, Pune, Bengaluru, Goa and Hyderabad in the near future.

Source : ET