Alpha Corp launches luxury housing project in Gurugram; to invest close to ₹350 crore

Alpha Corp is expecting a revenue of approximately ₹600 crore from its new luxury housing project in Gurugram.

Published on: Jul 9, 2024, 15:49:35 IST

By HT News Desk

Prefer HTon Google

Share via

Copy link

Alpha Corp, a Gurugram-based real estate firm, has announced the launch of Alpha Corp SKY1, a luxury housing project spread across an area of 2.38 acres in the millennium city for which it plans to invest close to ₹350 crore, the company said on July 9.

Alpha Corp, a Gurugram-based real estate firm, has announced the launch of a luxury housing project in the millennium city. (Representational photo) (pexels)

The company is expecting a revenue of approximately ₹600 crore from its new luxury housing project in Gurugram, it said.

Also Read: New Gurugram witnesses 53% increase in luxury property prices, rates in Noida's Sector 150 up by 43% y-o-y

The real estate firm will invest ₹350 crore to develop this 2.38-acre project, while the estimated sales revenue is around ₹600 crore, the company said.

The company is developing around 200 housing units in this 2.38-acre project in Gurugram. In the first phase, around 40 units are being launched for sale. The project is expected to include two phases that will be launched in the next quarter, the company said.

Also Read: Dwarka Expressway inauguration: The impact on Gurugram real estate prices

The project Alpha Corp SKY1 features apartments ranging from 2,400 to 3,600 sq. ft. These will be priced between ₹4.5 crore to ₹5 crore and above. Construction work on the project will start by September 2024 and the units will be handed over for possession in the next four years, it said.

This is a joint development project wherein the company has entered into an agreement with the landowners. The total development area for the first land parcel is 2.38 acres and second is 2.36 acres. The total development will be spread across an area of almost half a million sq ft, the company said.

Also Read: Delhi-NCR real estate: Haryana govt gives nod for construction of stilt and 4 floors

“Gurugram, regarded as the millennium city, exemplifies rapid infrastructure growth and dynamic urban development. This bustling hub attracts a diverse range of residents, businesses, and investors. Alpha Corp SKY1 in Sector 15, Part 2, Gurugram offers access to major transportation routes, educational institutions, and essential healthcare facilities,” said Santosh Agarwal, Executive Director and CFO, Alpha Corp.

Alpha Corp has projects spanning integrated townships, luxurious condominiums, corporate hubs, retail centers, industrial parks across the National Capital Region (NCR), Punjab, Uttar Pradesh, and Gujarat.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Real Estate News

Stay updated with the latest Real Estate News, property prices, housing trends and major projects. Explore market updates, investment insights and property developments across India.