Rs 1200 crore to be invested by Smartworld Developers for two new projects in Gurugram

By March 2022 the company is also glancing sales worth Rs 5,000 crore from these projects, of which it alleges Rs 2,000 crore has been already obtained.

For the development of two residential projects in Gurgaon named Smartworld Gems and Smartworld Orchard, Smartworld Developers is going to invest Rs 1200 crore in the project. The company’s objective is to achieve 2.5 crore sq ft of project development and plans to invest Rs 8000-10,000 cr in expanding residential projects in Gurugram.

By March 2022 the company also wants to achieve sales worth Rs 5,000 crore from these projects, of which it alleges Rs 2,000 crore has been already obtained.

“We have clocked combined sales worth Rs 2,000 crore on our recently launched low-rise offerings. Over 70% of our patrons are first-time homebuyers between the age group of 28–33 years. We have set ourselves a target of Rs 5,000 crore by March 2022”, said Vivek Singhal, the CEO of the company.

He further added “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 have realized the significance of owning a home post-COVID-19.”

Perfectly located at Gurugram’s most sought-after locale of Sector 61, Golf Course Road (Extn), Smartworld Orchard is a low-rise luxury residential development spread across 20.6 acres encompassing 2 and 3 BHK homes priced between Rs 1.37 cr and Rs 1.94 cr.

On the other hand, Smartworld Gems is located in Sector 89, New Gurgaon, and this project offers 2 and 3 BHK homes.  The price of the homes will lie between Rs 72.5-89.5 lakh.

Supported by India Infoline, Piramal Group, and the Bansal family, Smartworld Developers is eyeing development in Noida, Mumbai region, Pune, Bengaluru, Goa, and Hyderabad soon.