County Group To Invest ₹2,500 Cr To Develop Luxury Homes In Gurugram

Realty firm County Group will invest ₹2,500 crore to develop a luxury housing project in Gurugram as part of its expansion plan.

In a statement on Wednesday, the company said it will soon launch an ultra-luxury residential project in Sector 88A, Gurugram.

County Group will develop 844 apartments in this 24-acre project. The upcoming luxury housing project is scheduled to be completed by 2032.

"The project has an estimated investment of ₹2,500 crore," the company said.

Amit Modi, Director, County Group, said the housing demand continues to be strong in the Gurugram market.

In March this year, the company had announced an investment of more than ₹1,200 crore to develop a 5-acre luxury housing project at Sector 151, Noida, comprising 226 apartments.

County Group is one of the leading real estate developers based in the National Capital Region (NCR).

It has developed many residential and commercial projects across Noida, Greater Noida, Ghaziabad, Gurugram and New Delhi, comprising 20 million square feet of area.

According to real estate consultant PropTiger, housing sales across eight major cities fell 6% year-on-year to 91,729 units in the April-June quarter due to low demand, with buyers being cautious amid global uncertainties.

In Delhi-NCR, sales fell 7% YoY to 9,352 units from 10,051 units.