Making its debut in the real estate market of Delhi-NCR, the Hero Realty decided to invest Rs.900 crore in the next four years to build a premium housing project in Gurugram, an official of the company said.
The Hero Realty is a sister company of Hero Enterprise that is led by Sunil Kant Munjal and the company has successfully completed several real estate projects in Haridwar. Apart from this, the Hero Realty is currently building projects in Mohali and Ludhiana. The development and project marketing is done under the banner of Hero Homes.
Nagaraju Routhu, the CEO of Hero Realty said that the company is coming up with a 9-acre housing project in Sector 104 on Dwarka Expressway named ‘Hero Homes – World of Wellness’. This project also marks company’s entry into the real estate market of national capital Delhi and its adjoining cities.
CEO also said that the company will develop nearly 1,000 flats in this project and the starting price of dwelling units is Rs.68 lakhs. In the first phase, the company launched 300 units. He further said that the housing project has 85% green area along with best carpet area efficiency and effective space utilization.
The apartments are available in multiple sizes that range from 1,100 sq. ft. to nearly 1,700 sq ft. Routhu, CEO of Hero Realty said that we estimate the total project cost at over Rs 900 crore. He also said that funds through internal accruals and advance raised from the customers will be used as financial support for the construction of this project.
The company is receiving an overwhelming response for this project and the construction of the same will begin soon with a promise to complete the project in the next four years.
Hero Realty is one of the top realty companies in India, as they have delivered projects over 1.3 million square feet and projects on 4 million square feet are currently ongoing. Haridwar Greens and a 91-acre township Alaknanda in Haridwar are some of their delivered projects.