MRG World to invest Rs 200 cr to build another affordable housing project

Realty firm MRG World on Wednesday said it will invest Rs 200 crore to develop its new affordable housing project in Gurugram in the affordable price category of Rs 23-27 lakh.

The company, which is into financial services, agro-trading and education, recently made a foray into the real estate sector. This is the third affordable housing project of the company.

MRG World has launched a new residential project 'Ultimus' in Gurugram, Haryana. The company will construct 720 apartments in this 5-acre project, the company said in a statement.

The selling price has been fixed at Rs 4,000 per sq ft and will be priced between Rs 23.4 lakh and Rs 26.8 lakh.

The project would entail an investment of Rs 200 crore, which will be met by internal accruals and the proceeds from sale.

The construction work has already commenced and the project would be delivered by 2023.

In its first housing project 'Balcony' that was launched in June this year, the company is developing 731 apartments in Gurugram ...