EmaarMGF to build 200 villas of Rs 4.5 to 8.5 cr in G'gaon

NEW DELHI: Realty major Emaar MGF today said it would develop 200 luxury villas in Gurgaon, which would generate a revenue of at least Rs 900 crore to the company.

The company would sell these villas in the price range of Rs 4.5 crore to Rs 8.5 crore, Emaar MGF said in a statement.

The project 'Marbella' will be spread over 110 acre. Emaar MGF, which plans to raise Rs 1,600 crore through initial public offer (IPO), is presently developing 33 housing projects across the country. It developed the Commonwealth Games Village in the national capital.

Emaar MGF is a joint venture between Dubai-based Emaar Properties and India's MGF Development.