Adore Group Invests in Faridabad Luxury Housing Boom
Adore Group is set to invest Rs 800 crore in a luxury housing development, 'The Select Premia', in Sector-76, Faridabad. The project will cover 5.47 acres and include 190 apartments. This initiative is part of Faridabad's growing real estate market, buoyed by IT and manufacturing sector growth.
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- India
Adore Group has announced a significant investment of Rs 800 crore to develop a luxury housing project named 'The Select Premia' in Sector-76, Faridabad. This upscale project will occupy 5.47 acres and feature 190 high-end apartments.
The land for this venture was acquired by the Group in 2023 through auctions conducted by Haryana Shahari Vikas Pradhikaran (HSVP), incorporating the cost of land, construction, and other related expenses.
Jetaish Gupta of Adore Group emphasized Faridabad's burgeoning economic landscape, driven by thriving IT and manufacturing sectors. The announcement aligns with a notable rise in the Delhi-NCR housing market, as reported by PropEquity, with a 63% increase in sales reaching Rs 1.53 lakh crore in 2024.
(With inputs from agencies.)
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