Avalon to invest Rs 200 crore in housing project at Bhiwadi

NEW DELHI: Realty firm Avalon Group today said it will invest Rs 200 crore to develop a group housing project at Bhiwadi in Rajasthan.

The company would develop 800 housing units in the 12-acre project 'Avalon Regal Court'.

"We are launching our sixth project at Bhiwadi. The project cost is about Rs 200 crore," Avalon Group Director Ankit Aggarwal told reporters here.

The investment would be funded through internal accruals and debt, he said.

The company has fixed an all-inclusive price at Rs 2,300 per sq ft. The project would be completed in the next three years.

Apart from Bhiwadi, the Gurgaon-based firm has one project at Dharuhera in Haryana and one at Vrindavan in Uttar Pradesh.