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Tathastu Realty plans to invest INR 500 crore to develop an affordable housing project in Rewari, Haryana, comprising 3,354 residential units under the state's affordable housing policy. The apartments are priced at around INR 30 lakh each, with a base rate of INR 4,500 per sq ft for a 645 sq ft unit, along with an additional balcony component. The project has received more than 8,000 applications, with allotments finalised through a draw system as per policy norms. The development reflects sustained demand for budget housing in emerging markets within the National Capital Region, particularly among first-time homebuyers seeking regulated and cost-effective residential options.
Tathastu Realty will invest approximately INR 500 crore to develop an affordable housing project in Rewari, Haryana, comprising 3,354 residential units under the state's affordable housing policy framework, the company said in a statement issued in the past week. The project is aimed at catering to demand from buyers seeking budget housing within the National Capital Region. Advertisement
The development will include 3,354 flats, with pricing structured in accordance with state policy guidelines. The base price for the apartments has been set at around INR 4,500 per sq ft for a 645 sq ft unit, while an additional 100 sq ft balcony area will be priced separately at INR 1,200 per sq ft. The overall cost of each unit is estimated at approximately INR 30 lakh, positioning the project within the affordable housing segment.
The company stated that it received more than 8,000 applications for the available units, indicating strong demand relative to supply. The allotment process has been completed through a draw system, in line with the prescribed norms under Haryana's affordable housing policy, which is designed to ensure transparency and equitable allocation.
Neeraj K Mishra, Executive Director of Tathastu Realty, indicated that the level of interest in the project reflects continued demand for homeownership among buyers seeking quality housing at accessible price points. He noted that such demand is particularly visible in emerging locations where affordability remains a key consideration.
Tathastu Realty is a subsidiary of Ganga Realty and focuses on the development of affordable housing projects as well as high street commercial developments. The company has ongoing projects in locations such as Sohna, including Sectors 5 and 35, and Rewari, including Sector 22.
Rewari has been witnessing increased real estate activity in recent years, driven by its proximity to Gurugram and improving connectivity within the broader NCR region. Affordable housing projects in such markets are attracting interest from both end-users and investors due to relatively lower entry costs compared to core urban centres.
Gurugram-based Ganga Realty, the parent company, is involved in the development of multiple real estate projects across residential and commercial segments. The investment in the Rewari project forms part of its broader strategy to expand in the affordable housing segment and cater to demand in peripheral markets.
The project's scale and response from applicants highlight the ongoing demand-supply gap in the affordable housing segment, particularly in tier-II locations within the NCR, where policy-driven developments continue to play a key role in housing delivery.
Source - PTI
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