Realty firm Signature Global Ltd on Friday (January 10) said it has acquired a 16.12-acre land parcel located at Sector 71, Southern Peripheral Road, Gurugram, Haryana, with a potential developable area of approximately 2.73 million square feet. The acquisition was formalised through a sale deed executed on January 10, 2024.
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“…we wish to inform you that the company has executed a Sale Deed dated 10th January, 2024 for acquiring a Land Parcel admeasuring approximately 16.12 acres situated at Sector 71, Southern Peripheral Road, Gurugram, Haryana. The said land has an overall potential developable area of approximately 2.73 million square feet,” Signature Global said in a regulatory filing.
Also Read: Signature Global aims to tap steady demand in Gurugram’s mid-income housing segment
As part of the deal, Signature Global also cancelled its previously signed joint development agreement, which was executed on February 2, 2024, with the landowner.
“This is to further inform that the Company had executed a “Joint Development Agreement” for the development of this Land Parcel with the landowner, dated 2nd February 2024. Pursuant to the acquisition of this Land Parcel, the “Joint Development Agreement” with the landowner stands cancelled,” Signature Global said.
Yesterday, Signature Global said it plans to continue focusing on mid-income housing in Gurugram and the National Capital Region (NCR), with an average ticket size of ₹2-3 crore, as demand in this segment is expected to remain steady.
Over the past nine months, the company has achieved ₹2,500-3,000 crore in quarterly sales by consistently creating supply through new launches. Signature CEO Rajat Kathuria said the company also continues to explore opportunities in other segments.
Shares of Signature Global (India) Ltd ended at ₹1,250, down by ₹58.80, or 4.49%, on the BSE.
Also Read: Signature Global on track to achieve ₹10,000 crore in sales this year
(Edited by : Shoma Bhattacharjee)
