Mumbai, June 26 -- Harmony Infra Ventures said it will invest Rs eight billion (bn) to develop The Horizon Residences, a luxury housing project in Indirapuram, Ghaziabad in the Delhi-NCR region. The company has acquired a 100 per cent stake in the entity that owns the project land and the development is planned to comprise 264 units. The firm identified the development as a high-end residential scheme positioned for affluent buyers.
It stated that homes are being offered at Rs 15,000 per sq ft, which it described as below prevailing rates in the area, and that apartment prices range from Rs 60 million (mn) to Rs 75 million (mn). The company reported that around 100 flats have been sold to date. Sales pace and pricing were presented as indicators of early market traction.
The developer indicated the project is scheduled for completion in 2030 and said it anticipates revenue of around Rs 16 bn from the development. The executive director outlined a strategy focused on delivery and brand backing to attract buyers. The chairman argued that the Delhi-NCR market has matured, with purchasers emphasising the developer behind a scheme rather than solely on location or layout.
Harmony Infra Ventures was incorporated in 2024 and is primarily engaged in residential, commercial, healthcare, food and beverage and mixed-use projects across North India. It is reported to have active projects in Mohali, Punjab, among other locations. The co-founder and executive director was cited on operational matters and project economics.
Industry data from housing brokerage firm PropTiger showed that residential sales in Delhi-NCR rose 11 per cent year on year to 9,447 units in the January to March quarter, which the company presented as supportive of demand for new launches. Analysts said such trends are being monitored by developers planning luxury offerings. The firm emphasised alignment of product and execution with evolving buyer expectations.
Published by HT Digital Content Services with permission from Construction World.