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Harmony Infra Ventures will invest around INR 800 crore to develop a luxury residential project, The Horizon Residences, in Indirapuram, Ghaziabad. The company has acquired a 100% stake in the land-owning entity for the development, which will comprise 264 premium apartments. Homes are being offered at around INR 15,000 per sq ft, with apartment prices ranging from INR 6 crore to INR 7.5 crore. The project is scheduled for completion in 2030 and is expected to generate revenue of approximately INR 1,600 crore. Around 100 units have already been sold. The launch comes amid continued demand for residential properties in Delhi-NCR, where housing sales rose 11% year-on-year during the January-March quarter, according to PropTiger.
Harmony Infra Ventures has announced plans to invest approximately INR 800 crore in a luxury residential development in Indirapuram, Ghaziabad, strengthening its presence in the Delhi-NCR housing market. The project, named The Horizon Residences, will comprise 264 apartments and is expected to be completed by 2030.
The company revealed the investment plans on June 16 after acquiring a 100% stake in a company that owns the land parcel earmarked for the development. The acquisition gives Harmony Infra Ventures full control over the project site, enabling it to undertake the development independently.
Speaking in Noida, HS Kandhari, Co-Founder and Executive Director of Harmony Infra Ventures, said the company would invest around INR 800 crore in the project. He stated that the development would feature 264 residential units and is being positioned within the luxury housing segment of the Delhi-NCR market.
The apartments are being marketed at approximately INR 15,000 per sq ft. Kandhari noted that the pricing has been kept below prevailing market rates in the area. Individual residences are being offered in a price range of INR 6 crore to INR 7.5 crore, depending on unit size and configuration.
According to the company, buyer response has been encouraging, with around 100 apartments already sold. The early sales provide a significant level of inventory absorption at the initial stage of the project and indicate continued demand for premium housing in established micro-markets of the National Capital Region.
Harmony Infra Ventures expects the project to generate revenue of around INR 1,600 crore upon completion and sale of the entire inventory. The projected revenue is double the planned investment, reflecting the scale and pricing of the proposed development.
Commenting on the residential market, Sailander Solanki, Founder and Chairman of Harmony Infra Ventures, said homebuyers in Delhi-NCR were increasingly evaluating the credibility and execution capabilities of developers alongside project location and design. He indicated that developer reputation had become an important consideration in purchasing decisions as the market continued to mature.
Incorporated in 2024, Harmony Infra Ventures is engaged in the development of residential, commercial, healthcare, food and beverage, and mixed-use projects across North India. In addition to its Delhi-NCR expansion, the company is also developing projects in Mohali, Punjab.
The project launch comes against the backdrop of sustained housing demand in the region. According to data from housing brokerage firm PropTiger, residential property sales in Delhi-NCR increased 11% year-on-year to 9,447 units during the January-March quarter, highlighting continued buyer activity across key markets in the region.
Source - PTI
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