New Delhi, March 20 Tathastu Realty will invest ₹500 crore to develop an affordable housing project in Rewari, Haryana.
In a statement on Friday, the company said it will develop 3,354 flats in accordance with Haryana's affordable housing policy guidelines.
The company will invest ₹500 crore in this project.
The cost of each apartment is approximately ₹30 lakh.
The apartments are priced at ₹4,500 per square foot for a 645 square foot unit. An additional 100 square foot balcony is priced at ₹1,200 per square foot.
The company received more than 8,000 applications for the 3,354 flats. The allotment process has been completed through the prescribed draw system, as per applicable norms.
Neeraj K Mishra, Executive Director of Tathastu Realty, said, "The response reflects the sustained desire for homeownership among families seeking quality housing at accessible prices."
Tathastu Realty is a subsidiary of Ganga Realty and is focused on developing affordable housing projects, along with high street commercial developments in Sohna (Sectors 5 and 35) and Rewari (Sector 22).
Gurugram-based Ganga Realty is developing numerous real estate projects.