Signature Global Launches Rs 5,000 Crore Luxury Housing Project in Gurugram

Signature Global, a prominent real estate developer, has announced a significant luxury housing project in Gurugram with an estimated revenue of Rs 5,000 crore. The project, which is expected to launch in 5-6 months, is a testament to the growing demand for high-end residential properties in the region.

Pradeep Aggarwal, Chairman of Signature Global, expressed confidence in achieving the revised sales bookings target of Rs 10,300 crore for the current fiscal year. He noted that construction activities, which were temporarily halted in the December quarter due to pollution-related restrictions, have now accelerated across the company's various projects in Gurugram.

The company owns 25 acres of land at Southern Peripheral Road in Gurugram, earmarked for a large mixed-use development. Out of this, 7 acres will be dedicated to the luxury residential project, while the remaining 18 acres will be developed into office, retail, and hospitality spaces.

'We will come up with a branded luxury residential project on 7 acres of land with a total saleable area of 20 lakh square feet. The total revenue potential is estimated at Rs 5,000 crore,' Aggarwal said. The company is currently in talks with major hospitality chains to collaborate on the project, which is expected to be launched for sale in the coming months.

Aggarwal highlighted the strong demand for branded homes across major cities, a trend that has been particularly prominent in Gurugram. 'The demand for branded homes is robust, and we are confident that this project will meet the expectations of discerning buyers looking for luxury and quality,' he added.

For the development of the 18-acre land, Signature Global has formed a joint venture with Bengaluru-based RMZ Group. The partnership will see both companies investing around Rs 7,500 crore to develop a commercial project with a leasable area of 55 lakh square feet. This includes 35 million square feet of prime office space, along with retail areas and two hotels.

Under the terms of the joint venture, Signature Global's subsidiary, Gurugram Commercity Ltd (GCL), and RMZ's entity, Millennia Realtors, have entered into a Securities Subscription and Purchase Agreement (SSPA). RMZ will acquire a 50% equity stake in GCL through a combination of share purchase and subscription, with an aggregate consideration of up to Rs 1,283 crore.

Signature Global has a strong track record in the real estate sector, having delivered 16.5 million square feet of projects, primarily in Gurugram. The company is currently building several housing projects across various micro-markets in the city.

In the 2024-25 fiscal year, Signature Global sold properties worth Rs 10,290 crore. Initially, the company had set a target of Rs 12,500 crore sales bookings for this fiscal year but revised it downward to Rs 10,300 crore due to a softening in housing demand in Gurugram.

Despite the challenges, Signature Global remains optimistic about the future of the real estate market in Gurugram and is committed to delivering high-quality, luxury residential and commercial projects that meet the evolving needs of its customers.