MRG World will invest Rs 200 cr in the second affordable housing project in Gurugram

New Delhi, November 2 () MRG World real estate company will invest Rs 200 million to develop its new housing project in Gurugram in the affordable price category of Rs 22-26 rupees.

The company, dedicated to financial services, agricultural trade and education, recently entered the real estate sector.

MRG World has announced its second affordable housing project 'The Meridian' in Gurugram, Haryana.

The company will develop 755 units in this 5.5-acre project, it said in a statement.

MRG World hopes to develop the project with an investment of Rs 200 crore. Construction work has begun and the project will be completed in 2023.

The apartments are priced between Rs 21.7 lakh and Rs 25.8 lakh.

There is a shortage of affordable housing options in Gurugram with world class services. Our new offer 'The Meridian' is an attempt to fill that void, said Rajat Goel, MD Joint, MRG World.

Clients can obtain interest bonus offered by the Center under Prime Minister Awas Yojana.

In its first 'Balcón' housing project that was launched in June this year, the company is developing 731 apartments in Gurugram under the affordable housing policy of the Haryana government at a project cost of around Rs 200 million.

Real estate developers across the country are focusing on the affordable housing segment to boost sales and overcome the slowdown in demand. Even the government is promoting this segment by charging only 1 percent GST and offering an additional tax deduction of Rs 1.5 lakh on interest paid on mortgage loans for units priced at Rs 45 lakhs or less. MJH ABM ABM

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