Adore Group to invest Rs 800 cr on new housing project in Faridabad, Haryana

New Delhi, May 26 (PTI) Realty firm Adore Group will invest around Rs 800 crore to develop a luxury housing project in Faridabad.

In a statement on Monday, the company said it has launched a ultra luxury project 'The Select Premia' in Sector-76, Faridabad.

Spread across 5.47 acres of land, the project will have 190 apartments.

The Group had bought land parcel from Haryana Shahari Vikas Pradhikaran (HSVP) in 2023 through auctions.

The project cost will be about Rs 800 crore, including land, construction and other expenses, the company said.

Jetaish Gupta of Adore Group said that, "Faridabad is at an interesting juncture of growth and evolution. The economy is thriving backed by a surge in IT and manufacturing industry." Adore Group has completed 17 projects, largely housing, Faridabad and Gurugram.

According to data analytics firm PropEquity, Delhi-NCR housing market saw a 63 per cent year-on-year increase in sales to Rs 1.53 lakh crore during the 2024 calendar year. PTI MJH MR