Vatika Group To Invest 8000 Crore Into Township Project In Gurgaon

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    Realty firm Vatika Group is set to invest Rs 8,000 crore in Gurgaon. The fund will be used to develop a 224-acre township project that will be built over the next seven years.

    The Vatika Group’s upcoming project will have 15,000 housing units and 6.5 million sq ft of commercial space. The project will be titled Vatika India Next2, according to ET.

    “Vatika INXT 2 is our under-construction township, which is spread over 224 acre. It will have a total 15,000 units out of which 2,250 units have been launched and are under-construction,” ET quoted Alok Mehta, Head Product Strategy, Vatika Ltd, as saying.

    The project will be mainly targeted to attract middle-income group. The units to be sold under this project are expected to meet area norms laid under Pradhan Mantri Awas Yojana so that prospective middle-income group (MIG) buyers become eligible for incentives under the Credit-Linked Subsidy Scheme (CLSS).

    Vatika India Next 2 will comprise of independent floors and condos. The project will also have plots, ranging from 300 sq yards to 1,000 sq yards.

    The investment required to develop the entire township will be funded through equity. The major part of the township is expected to complete by 2025.

    This is Vatika Group’s second under-construction housing project in Gurgaon in this series. The firm is already developing a 700-acre township, named “Vatika India NEXT” in the city, comprising 8,000 flats/plots and 3.3 million sq ft of commercial space, with an investment of Rs 6,000 crore.

    Pic Credit: Vatika Collections

    This project is located in Sector 82. This township also has various sizes of plots, all of which are on fully developed paved roads, with footpaths, streetlights and parking spaces. The plots enjoy all the necessary infrastructural support like power, water, and sewage.

    Vatika Group is a leading player when it comes to real estate in the National Capital Region. The group is engaged in the business of real estate, hospitality, education, business centers, and facilities management.

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