Signature Global is about to commence the construction of a project which would cover an area of 194 acres. The future project will be expected to offer comfortable living spaces in the green environment.
Apart from the major transactions taking place in the NCR market, Signature Global made an announcement on Friday regarding their move into the Gurugram West market.
It refers to the Farrukhnagar market in which Signature Global will develop a luxurious farmhouse villa destination in an area of 194.22 acres. It has successfully been able to secure 25 acres of land along with entering into a partnership for another 169.22 acres of land.
Here are the main details of this firmhouse in simple and easy language:
| Location | Farrukhnagar, Gurugram West |
|---|---|
| Total Land | Approximately 194.22 acres |
| Land purchased | 25 acres of land parcel |
| Purchase value | 150 Crore for 25 acres |
| Purchase Method | Conveyance Deeds |
| Developer | Signature Global |
| Developable Potential | Approx. 6.77 Million Sq Ft |
| Estimated GDV | ₹5,500–6,000 Crore |
| Project Type | Ultra-Luxury Farmhouse Villas |
Signature Global, which operates out of Gurugram, announced on September 25 that it was entering into Gurugram West. It is also known as Farrukhnagar, by developing a luxurious farmhouse villa destination of 194.22 acres.
It is about 6.77 million sq ft of development capacity and a gross development value of about ₹5,500–6,000 crore, which marks their foray into the ultra-luxury segment of real estate.
It has already bought 25 acres of land while entering into a collaboration agreement on another 169.22 acres of land in the region. The price of the land was quoted to be ₹150 crore for 25 acres of land, sources revealed.
The luxury farmhouse in Gurgaon is designed to be an ultra-luxury and invitation-only development comprising luxury farmhouses that will be built as an exclusive development that emphasises space, privacy, and exclusivity.
The development will be very exclusive and luxurious in nature, with lots of spaces and a higher degree of privacy. It is situated about 15 minutes' driving distance away from the Dwarka Expressway with connectivity to the KMP Expressway and fronting the Farrukhnagar-Wazirpur Road.
According to Pradeep Aggarwal, Founder & Chairman, Signature Global Farrukhnagar, it had always been on their agenda because of its proximity to the Dwarka Expressway and the KMP Expressway.
Farrukhnagar is undergoing a major change in terms of infrastructure development. The road connecting Farrukhnagar to Gurugram is going to be upgraded to a four-lane road, estimated to cost ₹365 crore.
The master plan for the region is emphasising improving road connectivity as well as bypass facilities and civic amenities. The new road connecting Gurugram to Farrukhnagar to Jhajjar is also being developed through alignment studies by NHAI, the company stated.
The project has been conceived as an ultra-premium, invitation-only residential property. Signature Global stated that the development would combine some of the best residences in the area with the world of sports and other entertainment facilities.
This project is expected to be low density, highly exclusive and a private enclave, where there is plenty of space and privacy. Farrukhnagar has been on our radar for quite some time now.
The benefits that this place offers, because of its proximity to the Dwarka Expressway and KMP Expressway and the vast availability of land, give us the liberty to come up with a completely new concept of luxurious living.
This will not be just another residential development. We intend to build a property that will be extremely private and exclusive, with luxury farmhouse villas.
Also Read: Gurugram Metro Phase 2
Farukhnagar has been famous for its potential of being a land-abundant corridor on the western border of Gurugram.
The fact that Signature Global is investing in developing such a luxury villa enclave means that even a listed firm believes in the feasibility of the area to accommodate a premium residential project.
Signature Global has been targeting the mid-segment and the premium segment of residential housing. Its venture into developing an exclusive luxury villa enclave can be termed as the first such venture by the firm.
Real estate prices do not change based on houses but rather on connectivity. It has already witnessed the construction of a ₹365 crore four-lane road project connecting Farukhnagar and Gurugram. The NHAI is working on alignment for the new highway that will connect Gurugram, Farukhnagar, and Jhajjar.
The development will be an ultra-premium, invite-only residential development that is designed keeping in mind luxury, spaciousness, and privacy with villas amidst sprawling greens and landscaped gardens.
Furthermore, the GDV of ₹6,000 crore makes it an important project for Signature Global’s development pipeline. The further advancement in the land aggregation by the company will determine the progress of the entire project.
The development project indicates increasing interest in luxury housing in low density around the area of Gurugram. In general, the Signature Global project in Farrukhnagar is an example of the expansion of the housing market of Gurugram into the west direction.
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