News: Signature Global Plans Rs 5,000 Crore Branded Homes on SPR-15-02-2026
Signature Global plans a branded luxury housing project on Southern Peripheral Road (SPR), Gurugram, with revenue potential of about Rs 5,000 crore, chairman Pradeep Aggarwal told reporters on February 14.
Citing strong demand for branded homes, he said the project will come up on 7 acres with total saleable area of 20 lakh sq ft. The company is in talks with hospitality chains and expects to open sales in 5-6 months.
The 7 acres are part of a 25-acre holding on SPR earmarked for a large mixed-use development. The other 18 acres will house offices, retail and hospitality, to be built in a joint venture with Bengaluru-based RMZ Group at a total investment of about Rs 7,500 crore.
That commercial project will have 55 lakh sq ft of leasable area. As reported, 35 million sq ft will be prime office space and the remaining 20 million sq ft retail and two hotels.
For the venture, subsidiary Gurugram Commercity Ltd (GCL) and RMZ entity Millennia Realtors have signed a Securities Subscription and Purchase Agreement under which RMZ will acquire 50 per cent of GCL through share purchases and subscriptions for up to Rs 1,283 crore.
Aggarwal also said he is confident of meeting the revised sales bookings target of Rs 10,300 crore for the current fiscal.
