Summary:
New Delhi, Oct 26 (PTI) Realty firm Smart World Developers, which has been set up by M3M group promoters, on Tuesday said it will invest around Rs 3,000 crore to develop the company"s first two residential projects in Gurugram.
The company plans to launch two housing projects during this month after getting the necessary regulatory approvals.
"We are planning to launch two housing projects in November comprising around 4,000 flats and 6 million square feet of developable area.
We have already acquired land for these two projects," Smart World Developers CEO Vivek Singhal told reporters here.
He said the total investment on these two projects is estimated at around Rs 3,000 crore and the total sales realisation is expected at about Rs 5,000 crore.
These two projects will mainly have low-rise floors under Haryana government scheme.