Avalon Group plans nearly Rs 400-cr investment to develop housing projects in North India

NEW DELHI: Real estate firm Avalon Group has announced its plans to invest nearly Rs 400 crore over the next three years in the development of four housing projects in North India.

The Gurgaon-based realty player is chalking out plans to come up with four projects, comprising nearly 3,000 apartments, at Bhiwadi, Dharuhera and Vrindavan.

Ajay Singal, Avalon Director, said, “We have launched a housing project at Dharuhera having 800 units. We have also roped in Karishma Kapoor as our brand ambassador.”

The group is developing two housing projects at Bhiwadi and one at Vrindavan that together have about 2,100 apartments. The flats are being offered in a price range of Rs 10-40 lakh.

The funding in the planned investment would be done through internal accruals and advances from customers.

Under its expansion plans, the group already owns 200 acres of land bank in Rajasthan and Haryana for future developments.