Homebuyers joy run continues; SWAMIH delivers 140 units in DDJAY project

Project Overview

Flora Avenue 33 (Phase 1) is a residential affordable housing project being developed under Deen Dayal Jan Awas Yojna scheme of Haryana government. In this project, 140 residential units and 18 commercial units were delivered admeasuring ~98k sqft carpet area. Project is being developed by GlobalHorizon Holdings Pvt Ltd.

The Location

Project is located in emerging residential area of Sector 33 in Sohna NCR.

Project History

Project land was acquired in 2012 but it got development license from DTCP Haryana by 2019 only.
The launch of Project got further delayed due to Covid.
Project got launched in 2021, however since most of the collections from customers were linked to OC in the Project, Developer required funding to complete the construction.

SWAMIH Investment

Project land was acquired in 2012 but it got development license from DTCP Haryana by 2019 only.
The launch of Project got further delayed due to Covid.
Project got launched in 2021, however since most of the collections from customers were linked to OC in the Project, Developer required funding to complete the construction.

SWAMIH Impact

Project completed within ~1.25 years of investment as against target of 2 years.
Monitoring to ensure no diversion of funds u2013 all inflows are used for project completion.
Contractor/vendors dues cleared. Salaries paid to the employees.
23 new units sold; ~60 Cr collected.
140 homebuyers to finally get their homes.