Alpha Corp launches luxury housing project in Gurugram; to invest close to ₹350 crore

Alpha Corp, a Gurugram-based real estate firm, has announced the launch of Alpha Corp SKY1, a luxury housing project spread across an area of 2.38 acres in the millennium city for which it plans to invest close to ₹350 crore, the company said on July 9.

The company is expecting a revenue of approximately ₹600 crore from its new luxury housing project in Gurugram, it said.

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The real estate firm will invest ₹350 crore to develop this 2.38-acre project, while the estimated sales revenue is around ₹600 crore, the company said.

The company is developing around 200 housing units in this 2.38-acre project in Gurugram. In the first phase, around 40 units are being launched for sale. The project is expected to include two phases that will be launched in the next quarter, the company said.

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The project Alpha Corp SKY1 features apartments ranging from 2,400 to 3,600 sq. ft. These will be priced between ₹4.5 crore to ₹5 crore and above. Construction work on the project will start by September 2024 and the units will be handed over for possession in the next four years, it said.

This is a joint development project wherein the company has entered into an agreement with the landowners. The total development area for the first land parcel is 2.38 acres and second is 2.36 acres. The total development will be spread across an area of almost half a million sq ft, the company said.

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“Gurugram, regarded as the millennium city, exemplifies rapid infrastructure growth and dynamic urban development. This bustling hub attracts a diverse range of residents, businesses, and investors. Alpha Corp SKY1 in Sector 15, Part 2, Gurugram offers access to major transportation routes, educational institutions, and essential healthcare facilities,” said Santosh Agarwal, Executive Director and CFO, Alpha Corp.

Alpha Corp has projects spanning integrated townships, luxurious condominiums, corporate hubs, retail centers, industrial parks across the National Capital Region (NCR), Punjab, Uttar Pradesh, and Gujarat.