New Delhi, Mar 20 (PTI) Tathastu Realty will invest Rs 500 crore to develop an affordable housing project at Rewari, Haryana.
In a statement on Friday, the company said it will develop 3,354 flats as per Haryana's affordable housing policy guidelines.
The company will invest Rs 500 crore to develop this project.
The cost of the apartments is around Rs 30 lakh each.
The flats are priced at Rs 4,500 per sq ft for a 645 sq ft unit. An additional 100 sq ft balcony is priced at 1,200 per sq ft.
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 aspiration for homeownership among families looking for quality housing at accessible price points."
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 many real estate projects.