Silverglades to invest Rs 500 crore in mix-use luxury project in Gurgaon

Gurgaon-based boutique real estate developer Silverglades said it will invest around Rs 500 crore to build an ultra-luxury mix-use residential project in the city.

Silverglades will construct 260 high end 3-4 BHK apartments and 3 lakh sq ft of commercial retail space in this mixed-use project.

“There is very limited availability of luxury housing units in the heart of the city. We are targeting to cater to this need” Silverglades Group CEO, Anubhav Jain said.

The demand in luxury housing segment has risen after the outbreak of the pandemic as people are realizing the importance of home ownership. Larger apartments are being preferred by prospective home buyers.

“We have already sold 25 per cent of our inventories in last three months,” he said.

The company will sell apartments in a price range of Rs 3.5 crore to Rs 5.5 crore in this project. The commercial area, comprising retail and office spaces, will be sold as well as leased out.

Hightown Residences is located in Sector 28, Sushant Lok 1.

The company has completed six projects so far and is currently developing three projects The Melia—a housing project spread over 17.5 acres, Melia First Citizen for senior living and Hill Home at Kasauli in Himachal Pradesh.


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