Vatika to invest 8k crores in Gurugram township project
Realty major Vatika group has announced that it will invest about Rs 8,000 crore to develop a 224-acre township project in Gurugram over the next seven years. It plans to develop 15,000 housing units and 6.5 million sq ft of…

Realty major Vatika group has announced that it will invest about Rs 8,000 crore to develop a 224-acre township project in Gurugram over the next seven years.

It plans to develop 15,000 housing units and 6.5 million sq ft of commercial space in this township project ‘Vatika India NEXT2’.

The units to be sold in this township project would meet area norms laid under the Pradhan Mantri Awas Yojana so that prospective middle income group (MIG) buyers become eligible for incentives under Credit Linked Subsidy Scheme (CLSS).

“Vatika INXT 2 is our under-construction township which is spread over 224 acre,” said Alok Mehta, Head Product Strategy.

He said it will have a total 15,000 units out of which 2,250 units have been launched and are under-construction.

The major part of the township is expected to be completed by 2025, he said.

The company is selling flats in a price range of Rs 7,000-10,000 per sq ft and plots at over Rs 50,000 per sq yard.

Vatika group is already developing a 700-acre township ‘Vatika India NEXT’ in Gurugram, comprising 8,000 flats/plots and 3.3 million sq ft of commercial space, with an investment of Rs 6,000 crore.

(ends)

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