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Gurgaon-based realtor Avalon Group said its upcoming affordable housing project at Bhiwadi would help it mop up an estimated Rs 400 crore in revenue.
Spread over an area of 15 acres on the Haryana-Rajasthan border, the Royal Park project would house 1,100 flats and is likely to be operational in the next three years.
“We have just completed the land acquisition process and have received all the necessary approvals. We will start the construction soon,” Mr Ajay Singal, Director, Avalon Group, said.
He said the average price of the flats, which would be available in various designs of two, three and four bedrooms, would be priced in the range of Rs 2,300-2,600 per sq ft.
The Sikka Group, which was involved with the Commonwealth Games Village, would be designing the housing society, he said.
Mr Ajay Aggarwal, Director of Avalon Group, said property prices in Bhiwadi had almost doubled due to development of infrastructure, such as new schools and malls, as well as the industrial belt in Gurgaon.
The Avalon Group, at present, has four other projects in Bhiwadi, of which one has been completed, another is on the verge of completion and two are under construction.
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