The company is targeting 2.5 crore sq ft of project development and plans to invest Rs 8000-10,000 cr in developing residential projects in Gurugram.
Within two weeks of launch, Smartworld Gems and Smartworld Orchard — two offerings by Smartworld Developers — have clocked combined sales worth Rs 2,000 crore. Smartworld Developers plans to invest Rs 1200 crore in developing the two residential projects in Gurugram. The debutant real estate company is also eyeing sales worth Rs 5000 cr by March 2022, of which sales of Rs 2000 cr have been already achieved in a short span of two weeks.
Strategically located at Gurugram’s most sought-after location of Sector 61, Golf Course Road (Extn), Smartworld Orchard is a low-rise luxury residential development spread across 20.6 acres comprising 2 and 3 BHK homes priced between Rs 1.37 cr and Rs 1.94 cr.
The Gurgaon Metropolitan Development Authority (GMDA) is planning to revamp the Golf Course Extension Road. The proposed revamp is aimed at ensuring a signal free and seamless traffic movement, making it a 10 min drive from Cybercity.
Smartworld Gems is nestled in one of the most premium locations of Sector 89, New Gurgaon, comprising 2 and 3 BHK homes priced between Rs 72.5 lakh and Rs 89.5 lakh. The project’s strategic location with its proximity to Dwarka Expressway, Central Peripheral Road (CPR) and NH8 has been one of the key elements that has attracted potential buyers to this project.
Commenting on the success of the two projects, Vivek Singhal, CEO, Smartworld Developers, said, “We are overwhelmed by the response for our two projects. We have clocked combined sales worth Rs 2,000 cr on our recently-launched low-rise offerings. At Smartworld, we are committed to giving full value to the customer, backed by professionalism and customer-centricity which are at the core of our DNA. We have set ourselves a target of Rs 5000 cr by March 2022, and this first step gives us more conviction that we have the right pulse of our customers.”
He further added “The response we are receiving is the result of our unique product offerings, prime locations and product design. Over 70% of our patrons are first-time homebuyers between the age group of 28–33 years. These are aspirational millennials who wish to have a certain kind of lifestyle and furthermore, have realized the significance of owning a home post COVID-19.”
As per an ANAROCK report, the preferred budget range for mid-segment to premium homes in metro cities is Rs 80 lakh – Rs 1.5 cr, and the average buying age of homebuyers has dropped from 54 years to 30-35 years in the past two decades.
The recently launched projects, Smartworld Orchard and Smartworld Gems, are low rise homes with a lifestyle of a high rise including a luxurious club. The key highlight of these projects is an exclusive terrace and special My Space that can be used for anything; work from home, study, lounge, library or any other way the customer wants to use it.
Source : Financial Express