CG Developers India, has inked a significant deal with the ARG Group in Jaipur. Ushering into the affordable housing segment, CG Developers India has acquired the
majority 84% shares in the Ananta project by ARG Group. With such massive shareholding, the company plans to accelerate the project’s completion that was on hold since last 2 years. The project is expected to complete construction within next 6 months and is strategically located within the radius of 1km from the city’s largest educational coaching hub.
The project spans over 2.85 acres of land and has houses approx. 500 affordable apartments/flats with state-of-the-art amenities. These strategically designed value homes are built in a unique vicinity with class apart facilities like Club House, Swimming Pool, Gymnasium, etc.
The affordable real estate segment is gaining momentum in India as the demand for budget housing has considerably increased over the last few years. With a rising per capita income and an enhanced economic growth, this upcoming segment is drawing attention from investors across the country. Moreover, with a significantly low housing tax policy (1% GST) being levied, Jaipur is becoming the future hub for affordable housing in the country. This recent acquisition marks CG Developers’ entry into affordable realty in Jaipur.
Commenting on the recent share hike, Mr. Varun Chaudhary, Managing Director, CG Developers India, said “We are indeed delighted at the new acquisition of shares in the Ananta project. This is testament to our will and the success of our vision for providing affluent living experience at affordable prices. Moreover, with such affordable housing policies, we look forward to investing in more such budget homes in Jaipur and surrounding areas.”
CG Developers India is setting-up a new blueprint for expansion in India by increasing its market share through strategic penetration into potential markets. This massive expansion plan includes a vision for strategic growth and development with primary focus on faster turnaround time, faster sales cycles, secure finance on on-going and upcoming projects.
The Ananta project in Jaipur is the first step towards CG Developers India vision of realizing comfortable living at comfortable pricing. At a crucial point in the company’s success journey, this share hike is bringing the brand’s long-gained expertise in real estate to actively support its next phase of growth.