Silverglades to invest Rs 350cr in Gurgaon housing project
Realty firm Silverglades announced that it will invest Rs 350 crore to develop a housing project at Gurgaon and said that it would tie-up with Age Ventures, the non profit organisation for management of flats for senior citizens.
The company plans to develop 950 apartments in this 17.5 acre project, of which 156 flats would be for elderly people.
Silverglades Director Anubhav Jain told the reporters that, “We have tied up with Age Ventures for management of 156 flats for senior living. It will also help us in designing and marketing.” Jain said that the company would invest about Rs 300-350 crore on the entire project which also includes senior living community.
The work on the project would be started later this year and would be completed in four years.
Arun Gupta, the CEO of AGE Ventures said: “This is our third tie up with developers. We have partnered Brigade Group in Bangalore and another builder in Jaipur”.
Age Ventures are experts in retirement homes and persuaded developers to include senior living in their residential developments. Its knowledge partners are Helpage and UK’s leading expert in retirement homes MHA.
Silverglades is a Gurgaon-based organization and has developed couple of projects in the city and is constructing a 280-acre township in Ludhiana.
Source: The Economic Times
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