Signature Global Acquires 16-acre Land in Gurugram for ₹300 Crore; Plans Premium Housing
Gurugram-based real estate firm Signature Global has acquired a 16.12-acre land parcel for approximately ₹300 crore in Gurugram. They plan to develop a premium housing project with units priced between ₹3 crore and ₹4 crore, targeting the mid-income and l
Real EstateGurugramSignature GlobalPremium HousingLand AcquisitionReal Estate MumbaiJan 12, 2025
Located in Sector 71, Southern Peripheral Road, Gurugram, this strategic move is aimed at developing a premium housing project.
The company plans to offer apartments priced between ₹3 crore and ₹4 crore, catering to the mid-income and luxury segments of the market.
The total saleable potential of the project is estimated to be around 27 to 28 lakh square feet, as stated by a top company official.
The land has an overall potential developable area of approximately 2.73 million square feet, as mentioned in a regulatory filing dated 10 January 2025.
Pradeep Kumar Aggarwal, the chairman of Signature Global, emphasized the company's commitment to this premium project.
“The land cost is approximately ₹300 crore.
We intend to launch a premium housing project on the land parcel.
The price of housing units will be in the ₹3 to ₹4 crore range, and the total saleable potential of the project is expected to be around 27 to 28 lakh sq ft,” he said.
However, the project is not expected to hit the market immediately.
It may take at least six months to obtain the necessary regulatory approvals before the housing project can be launched.
This strategic acquisition aligns with Signature Global's recent shift from focusing primarily on affordable housing to targeting mid-income and luxury segments.
The company has already delivered 120 lakh square feet of housing area and has a robust pipeline of 350 lakh square feet of saleable area.
In addition to this acquisition, Signature Global is also eyeing the Noida and Greater Noida housing markets, further expanding its footprint in the National Capital Region (NCR).
Earlier this month, the company reported a significant jump in sales bookings, reaching ₹2,770 crore, more than double the ₹1,260 crore recorded in the previous year.
For the 2023-24 fiscal year, Signature Global achieved sales bookings of ₹7,270 crore and has set an ambitious target of ₹10,000 crore for the current fiscal year.
Motilal Oswal Financial Services, a prominent brokerage firm, recently highlighted Signature Global's strong position in the real estate sector, driven by a project pipeline of 24.3 million square feet.
The firm believes that the company’s decision to shift from affordable to premium housing will help its balance sheet turn cash-positive by the end of 2024-25.
This strategic move underscores Signature Global's commitment to meeting the growing demand for high-quality, premium housing in the NCR.
For over a decade, Signature Global has been a key player in the real estate market, known for its commitment to delivering quality living spaces.
The company's focus on premium and luxury segments is expected to further solidify its position in one of India's most dynamic real estate markets.
Frequently Asked Questions
What is the value of the land acquired by Signature Global in Gurugram?
The land acquired by Signature Global in Gurugram is valued at approximately ₹300 crore.
Where is the 16.12-acre land parcel located?
The 16.12-acre land parcel is situated in Sector 71, Southern Peripheral Road, Gurugram, Haryana.
What is the expected price range for the housing units in the new project?
The housing units in the new project are expected to be priced between ₹3 crore and ₹4 crore.
How much developable area does the acquired land have?
The acquired land has an overall potential developable area of approximately 2.73 million square feet.
What is Signature Global's sales target for the current fiscal year?
Signature Global has set a sales target of ₹10,000 crore for the current fiscal year.
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