Realty firm Avalon group to invest Rs 250 cr on housing project at Bhiwadi

NEW DELHI: Realty firm Avalon Group today said it will invest about Rs 250 crore to develop a housing project at Bhiwadi in Rajasthan.

The Gurgaon-based company will develop 1,100 flats in the 15-acre project 'Avalon Royal Park'.

"We are launching a group housing project in Bhiwadi at an average price of Rs 2,500 per sq ft," Avalon Group Director Ajay Aggarwal told reporters here.

The size of the apartments would vary from 1,250 sq ft to 2,800 sq ft.

Aggarwal said the investment in this project would be about Rs 250 crore and the company expects a sales realisation of Rs 400 crore over the next four years.

Avalon is developing many housing and commercial projects at Dharuhera and Bhiwadi.