DELHI: Real estate firm Chintels today launched group housing project 'Chintels Serenity' in Gurgaon with investment of about Rs 450 crore.
The project will come up on 1 million sq ft in Sector 109 in Gurgaon, located on the edges of Dwarka Phase II.
It will consist of 9 high rise towers with 370 apartments in all.
Chintels India Managing Director Prashant Solomon said: "The size of apartments will be in the range, built-up area of 2,100 sq ft to 6,500 sq ft."
Solomon added that in the initial phase they will launch 3-4 bedroom flats.
"The three bedroom flat with built up area of 2,100 sq ft and 2,375 sq ft will cost Rs 1.85 crore and Rs 2.10 crore respectively, while four bedroom flat with built up area of 2,925 sq ft would cost about Rs 2.65 crore," he added.
The company will launch penthouses with built up area of 6,500 sq ft in the later stages of the project.
The total investment in the project would be around Rs 450, comprising of Rs 300 crore for development and Rs 150 crore as land cost.
"We would like to complete this project by the end of 2017," he added.
Chintels group is developing 600 acres sectors 109, 108 and 106 of Gurgaon. Its another project Chintels Metropolis has been jointly developed with Sobha DevelopersBSE 1.23 % and QVC Realty.