Alphacorp, a prominent real estate developer, has announced plans to invest ₹350 crore in a new luxury housing project in Gurugram.
This strategic move comes amid robust consumer demand and reflects Alphacorp’s commitment to expanding its footprint in the competitive Gurugram real estate market. Alphacorp has entered into a partnership with an undisclosed entity that owns two land parcels, each spanning approximately 2.4 acres, located in Sector 15, Part 2, Gurugram.
According to Santosh Agarwal, Executive Director and CFO of Alphacorp, the development plan includes constructing a total of 200 apartments across these parcels.
The flagship project, named ‘Alphacorp SKY1’, will be situated on one of the parcels and will feature a luxury high-rise comprising 100 units, each priced at ₹5 crore. The project is already in motion, with plans for the second parcel to host a similar luxury housing development within the next 2-3 months.
Agarwal estimated the total project investment, excluding land costs, at ₹350 crore. Funding for the project will primarily come from internal accruals, supplemented by bank loans if necessary.
“Gurugram, known as the Millennium City, continues to witness rapid infrastructure growth and dynamic urban development,” Agarwal commented, underscoring Gurugram’s appeal to a diverse range of residents, businesses, and investors.
Established with a focus on integrated townships, luxury condominiums, corporate hubs, retail centers, and industrial parks across the National Capital Region (NCR), Punjab, Uttar Pradesh, and Gujarat, Alphacorp has successfully completed around 12 projects and currently has six ongoing developments.
This investment marks a significant milestone for Alphacorp, solidifying its position as a leader in luxury real estate development in Gurugram and setting new standards for residential living in the region.
Alphacorp’s ambitious venture underscores its commitment to excellence and innovation in the Gurugram real estate market, promising exceptional living spaces that cater to the discerning preferences of modern urban residents.