Delhi based Real estate developer Arihant Group will invest Rs 175 crore over the next three years for developing a housing project in Faridabad. Arihant Group has already completed five housing projects in the NCR comprising more than 1,000 apartments and is currently working on a group housing project in Noida Extension.
“We are coming up with a new luxury housing project in Faridabad. The project will have two 12-storey towers having total 72 units,” Arihant Group Managing Director Kaushal Jain told reporters.
Arihant would invest about Rs 175 crore to develop this project, he said, adding the company had bought this land in auction for nearly Rs 60 crore. Investments would be funded through bank debt and sales advances from customers.