MRG World, a Gurugram based developer in the affordable housing segment today announced the launch of a new residential project ‘Ultimus’, which will come up at Sector 90, Gurugram, Haryana. Spread across 5 acres of land, the new affordable offering will consist of units of 2BHK apartments of varied sizes ranging from 570 sq. ft to 645 sq. ft.

With the Company targeting the lower and mid-income group for the upcoming project, it has priced the units at a very competitive rate of Rs. 4,000 per sq. ft. This project will have 720 total units and will be priced between Rs. 23.4 lac Rs. 26.8 lac and is likely to entail an investment of Rs 200 crore, which will be met by internal accruals and proceeds from the sale. As the project is also registered under Pradhan Mantri Awas Yojna (PMAY), homebuyers can avail of a subsidy of up to Rs. 2.67 Lacs on Home Loan Interest. Accordingly, homebuyers will also be required to pay a GST of just 1%.

The Project is registered with Haryana RERA (H-RERA) and the construction of the project has already commenced. The delivery of the project is likely by 2023.

The Ultimus is strategically located bang on 75 Meter Running Road and is also well connected to both NH-8 & Dwarka Expressway offering an abundance of greenery and tropical style landscaping. IGI Airport is also 20 minutes away from the upcoming project, which is set to redefine affordable house paradigm not just in Gurugram, but in the entire region.

For the first time, any Affordable Housing project will have dedicated 25,000 sq ft area for Kids Play Area along with Half Olympic Size Swimming Pool. The world-class Kids Play Zone is no child’s play and while designing such a project, MRG WORLD has not ignored the fact that while the project offers the best amenities, they leave a lot to be desired when it comes to children’s growth and activity area within the premises. This Project is IGBC Gold certified project.

Commenting on the launch of the project, Rajat Goel, Joint MD, MRG World, “We are extremely delighted to announce the launch of one of our most ambitious projects. Even as Gurugram is a premier destination, our endeavor is to provide our valued customers best of facilities and amenities at an affordable price, thereby providing value for money, in fact, every penny.”

MRG World is also developing another affordable housing project by the name of The Balcony at Sector 93, Gurugram and The Merdian in Sector 89 Gurugram.