SS Group is All Set to Develop 4.15 Million Sq.ft land in Gurgaon
Ashok Jaunapuria the MD & CEO of SS Group informed ET that the group is planning to invest 1950 crores for developing 4.15 million Sq.ft of residential projects including low-rise floors and commercial space in 2022-23.
The group has delivered 17 million Sq.ft of area across 23 projects in Gurgaon till now and expects a growth of 30% in the revenue in the year 2021-22. Jaunapuria informed “The projects we will launch this year and units from existing projects present a sales opportunity of Rs 3,600 crore. We are coming up with luxury floors, demand for which has gone up in Gurgaon post Covid,”
As per the report published by Australia’s REA-backed PropTiger.com the housing sales and launches of new projects reached to a record numbers in the January-March quarter with a total sale of 70,623 units, the highest in a quarter after the covid pandemic hit the nation.
The upcoming projects SS Linden Floors and SS Linden Commercial is sprawled across 2.5 million Sq.ft of area. The project has a provision of 1,450 residential units in it. In addition to this, the group housing in New Gurgaon will be constructed over an area of 1.5 million Sq.ft and another 1.5 Lakh Sq.ft of space will be used to develop commercial space in Sector 49.
Jaunapuria further added “With a huge demand for luxurious residences with large room sizes along with the requirement of independent living, SS Group will continue to develop SS Linden Floors. The company intends to deliver the projects within three years of its launch and has kept a starting price of Rs 1.55 crore,”.
According to the report published by PropTiger.com the total sale in Q1 in 2022 is 70,623 units as compared to the 66,176 sold in Q1 2021, registering a net growth of 7% year on year.
According to the ANAROCK Research, the supply of new housing projects in Delhi-NCR increased by 38% on YoY basis—from 6,750 units in Q1 2021 to approximately 9,300 units in Q1 2022. Gurgaon top the chart with a total launches of 7,890 new units in Q1 2022, which is approximately 85% of the total new launches in the NCR region.
Sale of residential projects in NCR in Q1 2022 is approximately 18,835 units, which is the second highest after the Mumbai Metropolitan Region (MMR).