Realty Developer Mapsko to Invest Rs 200 Crore in Acquiring Stalled Projects

Realty Developer Mapsko to Invest Rs 200 Crore in Acquiring Stalled Projects

Realty developer Mapsko Group said it will invest Rs 200 crore in 2021 to acquire stalled projects, which require last mile funding and will focus on completing it.

Rahul Singla, Director, Mapsko Group told ET that sales momentum is back since November 2020, as Mapsko’s MountVille residential project clocks sales worth Rs 190 crore within 100 days.

“We have slightly reduced the price and since it is a ready to move in property, we witnessed a lot of interest from end users. We will now look to acquire projects that require kick start funding rather than launching fresh project,” said Singla.

Mapsko MountVille, located in Sector 79, Gurugram, has 200 units of fully-loaded 3-BHK, 3.5 BHK and 4.5 BHK apartments.

Spanning across 16.369 acres, it has a total of 756 apartments in 8 towers. The Phase 1 of the project has been completed.

“The 100 mein 200 achievement is a testament of the faith reposed in us by our patrons. The project is located in Sector 79 and has been meticulously designed in a resort-like style catering to globetrotting millennials. Nestled in the foothills of Aravalli, the project promises an opulent living in the lap of Nature,” Singla said.

The key highlight of the project is its strategic location in Sector 79, New Gurugram. The three highways- Kundli–Manesar–Palwal(KMP) Expressway and Dwarka Expressway and Delhi-Gurgaon(NH 48) Expressway are major spokes of connectivity.

The opening of Hero Honda Chowk flyover and Southern Peripheral Road have further enhanced connectivity which is set to go several notches higher with the opening of the Gurugram-Faridabad metro rail link. The project is well-connected to Indira Gandhi International Airport, New Delhi Railway Station and Huda City Centre Metro Station.

Source : ET

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