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Thursday, May 23, 2024

Details about Signature Global’s Rs 3,600 Crore Luxury Flat Sales in Gurugram

<p>In its newest home project, “DE LUXE-DXP,” in Gurugram, the real estate company Signature Global has sold luxury apartments valued at over Rs 3,600 crore, demonstrating robust customer demand in spite of price increases. In Sector 37D, Gurugram, the DE LUXE-DXP project has eight towers housing 1,008 apartments, including 3BHK, 3.5BHK, 4.5BHK, and penthouses.</p>
<p><img decoding=”async” class=”alignnone wp-image-472614″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/03/signature-global-de-luxe-dxp-gurugram-2024-03-8e9dee5898986ed4dc174b2ce9230dab_11zon.jpg” alt=”” width=”961″ height=”721″ /></p>
<p>These projects include homes with seven swimming pools, podium parking, and two 80,000-square-foot clubhouses, offering residents a distinctive living experience. In a statement released on Monday, Signature Global listed many features, including “power backup, multiple water bodies, two apartments to a core, triple height lobby, VRV AC, extra spacious deck, the largest jogging track in the region, and a 270-degree wrap-around balcony.”</p>
<p>Signature Global’s DE LUXE-DXP had an oversubscription of expressions of interest over 5.4 times the number of units available for sale, the company stated.</p>
<p>In contrast to the earlier estimate of Rs 4,500 crore, Signature Global Chairman Pradeep Aggarwal said in an interview with PTI that the company’s sales bookings will easily surpass Rs 7,200 crore this fiscal year.</p>
<p>“We have started construction on a new home complex on the Dwarka Expressway in Sector 37D, Gurugram. Aggarwal told PTI, “We have sold all 1,008 housing units for more than Rs 3,600 crore.</p>
<p>He stated that 5,400 EOIs, or Expressions of Interest, had been received by the firm from prospective buyers of the 1,008 apartments in the new 16.5-acre housing project “DE LUXE-DXP,” which has a saleable area of 2.7 million (27 lakh) square feet.</p>
<p>Premium residences in the Rs 3–4 crore price category were in high demand. The majority of the upscale developments in Gurgaon are selling apartments for more than Rs 7 crore, he said.</p>
<p>Senior executives of large corporations and non-resident Indians (NRIs) have reserved almost 35% of the apartments, according to Aggarwal.</p>
<p>He said that the new home project will be delivered by the corporation in 2028.</p>
<p>The most recent high-end home project, Signature Global, reported “pre-formal launch sales of more than Rs 3,600 crores” to stock markets on Sunday.</p>
<p>Speaking about sales bookings for the whole fiscal year, Aggarwal predicted that they will reach Rs 7,200 crore with ease. Signature Global has already seen a 41% increase in sale bookings from Rs 2,209.78 crore in the same fiscal year to Rs 3,124.12 crore from April to December of this year.</p>
<p>He said that with sales of Rs 3,600 crore from this new project, the total had surpassed Rs 6,700 crore.</p>
<p>For a total of Rs 3,430.58 crore, Signature Global sold 4,512 units during the 2022–2023 fiscal year.</p>
<p>Despite investors returning to the market with respectable price appreciation in the previous two years, housing demand has rebounded in major cities after the COVID-19 epidemic, mostly due to end-user demand.</p>
<p>Aggarwal explained the cause for the spike in demand by saying that “a significant population segment has developed better purchasing power and higher aspirations with growing affluence in the middle class.”</p>
<p>“To meet the demands of the new age lifestyle, modern consumers are looking for a combination of features, amenities, space, and affordability,” Aggarwal said.</p>
<p>In an attempt to collect Rs 730 crore, Signature Global successfully conducted its first public offering in September of last year.</p>
<p>The public offering, which included an Offer for Sale (OFS) for Rs 127 crore and a new issuance of shares valued at Rs 603 crore, received 11.88 subscriptions.</p>
<p>Signature Global primarily focuses on the inexpensive and mid-income housing markets.</p>
<p>Signature Global has supplied 6.7 million square feet of space as of December 2023. In addition to the 16.9 million square feet it is now creating, there are an additional 28.4 million square feet of saleable space in the works.</p>

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