ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
  • Adani Saga
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » Property News

Smart World Developers to invest Rs 3,000 cr in 2 Gurugram projects

The CEO informed that the new company has been established by Pankaj Bansal and his wife Aishwarya Bansal, who are among the promoters of Gurugram-based M3M group.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Smart World Developers to invest Rs 3,000 cr in 2 Gurugram projects
Aishwarya Bansal, the co-founder of the new company, said that Smart World Developers will focus on developing projects keeping in mind the requirement of millenial

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.
The CEO said that the company would target Rs 75 lakh to Rs 1.5 crore price bracket in Gurugram market initially.

Singhal said the company has already raised around Rs 400 crore from Piramal group and India Infoline for development of these projects. The investments have been made in the two Special Purpose Vehicles (SPVs) formed to build these two projects.
The company aims to launch 1-2 more projects by the end of this fiscal year, he said.

The CEO informed that the new company has been established by Pankaj Bansal and his wife Aishwarya Bansal, who are among the promoters of Gurugram-based M3M group.

Aishwarya Bansal, the co-founder of the new company, said that Smart World Developers will focus on developing projects keeping in mind the requirement of millenial. She said the company will develop across major cities of the country and will not restrict itself to the Gurgaon market.

Smart World President (Sales and Marketing) Ashish Jerath said the company is looking to expand in key real estate markets such as Gurugram, Noida, Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Goa and Hyderabad in the near future.

"We are targeting to achieve a sales bookings of around Rs 5,000 crore during the current fiscal," he said. On the long-term, the company intends to develop 25 million square feet of residential projects and will invest Rs 8,000-10,000 crore in Gurugram only.

See Zee Business Live TV Streaming Below:

Singhal said the company is in talks with landowners for joint development agreements (JDAs) to build housing project across major cities.

According to a recent report from housing brokerage firm PropTiger, housing sales across eight major cities registered an annual growth of 59 per cent during July-September at 55,907 units, while demand jumped over three-fold against the previous quarter. PTI MJH MR

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Smart World DevelopersM3M group
Written By: PTI
Updated: Tue, Oct 26, 2021
07:16 pm
New Delhi, PTI

LATEST NEWS

Apple rolls out iOS 16.5 beta 1 to developers

User will still see tweets in 'For You tab' from people they follow: Musk

Delhi govt approves Rs 39 cr for maintenance of roads in north, south Delhi

Karnataka Election date 2023 announced: Check poll date, result date and constituency-wise full schedule

7th Pay Commission: After DA bonanza, central government employees set to get basic salary increment, to receive Rs 12,604 more in salary

UPI transactions above Rs 2,000 to be chargeable from April 1? NPCI clarifies

Anil Singhvi shares tips on how to find the best stop loss for your target

The Souled Store gets Rs 135 crore Series C funding led by Xponentia Capital

Dry Day 2023: Sale of liquor prohibited due to Ram Navami tomorrow; Good Friday, Bakrid, other upcoming dry days - Check Full List

PAN-Aadhaar link: How to link Aadhaar with PAN using income tax website — a step-by-step guide

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. Indiadotcom Digital Private Limited. All Rights Reserved.
LIVE TV