Realty firm Harmony Infra Ventures will invest around Rs 800 crore to develop a luxury housing project in Delhi-NCR.
Harmony Infra Ventures has acquired a 100 per cent stake in a company which owns the land for the upcoming project in Indirapuram, Ghaziabad.
"We will be investing Rs 800 crore to develop this project, The Horizon Residences, comprising 264 units," Harmony Infra Ventures Co-Founder & Executive Director HS Kandhari told reporters on Tuesday in Noida.
The company is selling homes at Rs 15,000 per sq ft, he said, adding that the rates are lower than the current market price in this area.
The apartments are being sold in a price range of Rs 6-7.5 crore. Around 100 flats have already been sold so far.
The project will be completed in 2030, according to the company.
Kandhari said the realty firm is expecting a revenue of around Rs 1,600 crore from this project.
"The Delhi-NCR market has matured. Buyers today are not just evaluating a location or a floor plan - they are evaluating who stands behind the project," said Sailander Solanki, Founder & Chairman, Harmony Infra Ventures.
Harmony Infra Ventures, incorporated in 2024, is primarily engaged in residential, commercial, healthcare, F&B and mixed-use projects across North India. It is also developing projects at Mohali, Punjab.
According to housing brokerage firm PropTiger, sales of residential properties in Delhi-NCR grew 11 per cent annually to 9,447 units during the January-March quarter.
