Eros Group to Invest Rs 250 Crore on New Housing Project in Faridabad
Housing Projects. Representational Image. (Photo Credits: Pixabay)

New Delhi, January 15: Realty firm Eros Group said it will invest Rs 250 crore to develop a new luxury housing project in Faridabad, Haryana.

The company, which is also into the hospitality sector, will develop 76 units in the 2.7-acre project called 'Edenwood Towers', Eros Group said in a statement. The project cost will be met from internal accruals and advance payments from customers, it added. Housing Sales Rise by 1% in 2019, Launches up 23%: Knight Frank India.

"We will invest around Rs 250 crore over the next 2-3 years on the development of this project," said Avneesh Sood, director, Eros Group.

The project will be delivered in September 2023.

Sood said the company will also invest an additional Rs 100 crore to develop commercial and clubs in their ongoing housing project Sampoornam I at Greater Noida in Uttar Pradesh.

Eros Group has two hotels -- Shangri-La's Eros in central Delhi and Eros Radisson Blu Hotel in Faridabad, Haryana. It also runs Vishal Cineplex in West Delhi.