MRG World’s new affordable housing project in Gurugram to offer flats for ₹23-27 lakh

Gurugram-based real estate developer MRG World earlier this week has announced the launch of a new affordable housing project in the city to be built with an investment of ₹200 crore.

The project, named ‘Ultimus’, will come up at Sector 90, Gurugram, and will be spread across 5 acres of land, the builder said in a statement. It will consist of a total of 720 units of 2BHK apartments of varied sizes ranging from 570 sq. ft to 645 sq. ft, priced at ₹4,000 per sq. ft.

The project is registered with Haryana RERA (H-RERA) and the construction has already commenced. The delivery of project is likely by 2023, the company said.

As the project is also registered under Pradhan Mantri Awas Yojna (PMAY), homebuyers can avail a subsidy of up to Rs. 2.67 lakh on home loan interest. Accordingly, homebuyers will also be required to pay a goods and services tax (GST) of just 1%.

The Ultimus is located on 75 Meter Running Road and is well connected to both NH-8 and Dwarka Expressway. IGI Airport is also 20 minutes away from the upcoming project.

MRG World said ‘The Ultimus’ will have a dedicated 25,000 sq. ft area for kids along with half Olympic size swimming pool, which is a first for any affordable housing project in the country.

Rajat Goel, joint MD at MRG World, said: “We are extremely delighted to announce the launch of one of our most ambitious projects. Even as Gurugram is a premier destination, our endeavour is to provide our valued customers best of facilities and amenities at an affordable price, thereby providing value for money, in fact every penny.”

MRG World is developing two other affordable housing projects in Gurugram by the name of ‘The Balcony’ at Sector 93 and ‘The Merdian’ in Sector 89. The Balcony, which was launched in June this year, is developing 731 apartments under the affordable housing policy of the Haryana government, while ‘The Meridian’ will develop another such 755 units.