Signatureglobal (India) has received approval to execute a Share Purchase Agreement (SPA) with the existing shareholders of Gurugram Commercity (GCPL) to acquire 100% equity share capital of GCPL, which owns / will own prior to the completion of the acquisition, land parcels admeasuring 25.14 acres, situated at Village Fazilpur Jharsa, Sector-71, Gurugram, Haryana (one of the most rapidly developing cities of the Delhi NCR), with a development potential of approximately 5.49 million square feet.
The closing of the transaction is expected to take place over the coming 6-9 months post completion of certain conditions precedent which have been agreed between the existing shareholders and the company. The acquisition of the shares in GCPL is in line with the Company's main business activity which is construction and development of real estate projects in Gurugram and neighboring areas of Haryana.
The acquisition of GCPL will result in the Company owning around 25.14 acres of land parcel in the prime location of sector-71, Gurugram, Haryana, with a development potential of approximately 5.49 million square feet. The company proposed to do a mixed use development over this land parcel comprising of housing and commercial product categories. Therefore, the real estate assets' portfolio of the Company will increase, which will provide higher value proposition to all its stakeholders.
Signatureglobal (India) is a real estate development company. The company operates in the National Capital Region of Delhi (Delhi NCR). The company strategically focused on the Affordable Housing segment and the Middle Income Housing segment through GoI and state government policies.
