NEW DELHI: Gurgaon based-Signature Sattva Group has announced its venture in the affordable housing sector with an investment worth of Rs. 850 crores in developing their affordable housing projects in 5 states Rajasthan, Haryana, Punjab, Uttar Pradesh and Maharashtra.
The investment would be made through groups’ internal accruals and institutional funding’s and will be done over a period of 3-5 years.
The group is in plans to announce its maiden affordable housing project at Rajasthan. The company is planning to develop multiple projects in non-metro cities under the affordable housing segment over the next five years and aims at becoming one of the leading developers in the affordable housing sector.
All their projects will be aligned with the United Nations sustainable development goals of “adequate housing for all by 2030” and the company looks to enhance the lifestyle and living standards under Pradhan Mantri Aavas Yojna (PMAY) in India. The projects are in the affordable segment but will be built with superior construction technology and will have the world-class amenities.
Parveen Aggarwal, Founder and Chairman, Signature Sattva Infratech Pvt LTD said, “In India, with its burgeoning population and with the growth in disposal income, the demand for housing has been increasing. The major demand is in the affordable housing sector which constitutes more than 70% of the existing demand. Also, in non-metro regions, there haven’t been many realty players who have entered the affordable sector; hence we saw an opportunity where we could grow by providing millions with a home of their own.”
Signature Sattva with this announcement will become one of the few Developers to exclusively plan and develop projects under affordable housing scheme. They develop every property only after concentrated and focused market research to determine consumer needs and then the project is designed and implemented according to consumer preferences”
He added, “The central government since its last tenure has been pushing for affordable housing under various schemes which is a major motivation. The ease in policies makes working easier. We are sure that affordable housing in India will play a crucial role in providing homes to all who otherwise would have just dreamt of a house of their own.”