Listed real estate developer Signature Global has sold over 1,000 luxury flats in its new housing project located near Dwarka Expressway in Gurugram for over Rs 3,600 crore, the company said in a regulatory filing.
Signature Global announced the launch of its premium housing residential development project, 'DE LUXE-DXP,' in Gurugram Sector 37D, near Dwarka Expressway, and is spread over 16.5 acres.
The housing project presents a sales potential of 2.7 million square foot and offers 1008 units having 3BHK, 3.5BHK, 4.5BHK apartments, and penthouses, the firm said.
The realty firm said that for the number of units available for sale, Signature Global’s 'DE LUXE-DXP' received an "oversubscribed
expression" of interest over 5.4 times.
Pradeep Aggarwal, Chairman and Whole-Time Director, Signature Global, said that with growing affluence in the middle class, a significant
population segment has developed better purchasing power and higher aspirations.
"These factors have led to growing demand in the mid-housing segment, as modern-day consumers are seeking a mix of features, amenities, space, and affordability to fulfil the demands of the new age lifestyle. Surprisingly NRI and big corporate employees have shown immense response. We are pleased with the outcomes of our launch sales," he said.
He added that there was a huge demand for premium homes in the price range of Rs 3-4 crore as in Gurgaon market, most of the premium projects are offering flats for more than Rs 7 crore.
The company would deliver this new housing project in 2028.On Sunday,
Signature Global informed stock exchanges about "pre-formal launch sales of more than Rs 3,600 crores" in this latest premium housing project.
Signature Global is mainly into mid-income and affordable housing segments. Till December 2023, Signature Global has delivered 6.7 million square feet area. It is developing 16.9 million square feet area and also has a future pipeline of 28.4 million square feet of saleable area.
In September last year, Signature Global successfully launched its maiden public offer to raise Rs 730 crore. The public issue, comprising a fresh issue of shares worth Rs 603 crore and an Offer for Sale (OFS) of Rs 127 crore, was subscribed 11.88 times
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