Obtaining regulatory approvals for the project may take at least six months. Credit: Mr Twister via Shutterstock.

Signature Global, an India-based real estate company, has acquired a 16.12-acre parcel of land in Gurugram, India, for roughly Rs3bn ($34m).

The company plans to develop a premium housing project on this land, with apartment prices ranging from Rs30m to Rs40m, the company stated in a regulatory filing.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The land is located in Sector 71 along the Southern Peripheral road.

Signature Global chair Pradeep Kumar Aggarwal said: “The land cost is approximately Rs3bn. We intend to launch a premium housing project on the land parcel. The price of housing units will be in the Rs30m to Rs40m range, and the total saleable potential of the project is expected to be around 2.7 million to 2.8 million square feet.”

Aggarwal indicated that obtaining regulatory approvals for the project’s launch may take at least six months.

The company also has plans to expand its reach into the Noida and Greater Noida housing markets within the country.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Earlier this month, Signature Global reported a more-than twofold increase in sales bookings, reaching Rs27.2bn, compared to Rs12.6bn in the same period last year.

In the 2023-24 financial year, the company achieved a total of Rs72.7bn in sales bookings and aims for Rs100bn this fiscal year.

Historically known for its focus on affordable housing, Signature Global has recently broadened its portfolio to include middle-income and luxury homes.

The company has delivered 12 million square feet of housing area and has a pipeline with 35 million square feet of saleable area in upcoming projects, along with 15.8 million square feet of ongoing developments set for completion within the next two to three years.