New Delhi: Falcon Realty Services will invest Rs 300 crore to develop a 35-acre group housing project in Haryana and would offer the apartments to the people at affordable price.

The Gurgaon-based company would construct 5,000 flats of 360 sq ft each at Bawal. Each one-bedroom apartment would carry the price tag of Rs 5.5 lakh. “There is a huge need of housing in the country at an affordable rate. So, we decided to offer housing at Rs 5.5 lakh. It is like Nano (Tata Motors’ Rs one lakh car) in real estate,” Falcon Realty Services CEO Bhim Yazher Rs 250 crore will be raised from private firms.”

He said the company would not dilute any stake in the project, but would offer 25% of the total units to them.

Source: The Economic Times