Realty firm Signature Global, which focuses on affordable homes, on Saturday said it will invest Rs 700 crore to develop a new housing project in Gurugram.

Signature Global will develop 1,296 independent floors in a 20.6-acre project in Sector 37D, Gurugram.

This is the company”s 25th project. It has already completed seven projects.

The project ”Signature Global City 37D” will be developed under Deen Dayal Jan Awas Yojana (DDJAY). On 324 plots, it will construct 1,296 independent premium floors, the company said in a statement.

This project will be developed with an investment of Rs 700 crore, it added.

The company has already launched 648 floors in the first phase, which will be delivered in the next two years.

The price of the floors starts from Rs 61.14 lakh plus additional charges.

Pradeep Aggarwal, Founder & Chairman, Signature Global, said: “People nowadays want well connected locations and fast ownership, and the turnaround time for plots and independent floors is much shorter than for housing societies and multistorey apartments, resulting in the popularity of independent floors.”

The company has launched 22,514 units so far. It is targeting to deliver 5000+ units in 2021-22.