Signature Global To Invest ₹2,890 Crore In Tonino Lamborghini Project
Realty major Signature Global on Thursday announced a partnership with Italian lifestyle brand Tonino Lamborghini to invest ₹2,890 crore in a branded residences project in Gurugram.
While Signature did not disclose the starting ticket prices, officials told Business Standard that the firms are expecting a ₹4,000 crore gross development value (GDV) from the project.
“Spanning across 12.4 acres, the development will feature 812 premium residences in 3, 4 and 4.5 BHK configurations,” Signature said in a regulatory filing to the exchanges.
It added that the project will be named Tonino Lamborghini Residences Gurugram, with the partnership marking the Italian firm’s entry into India’s residential real estate market.
According to documents accessed from the Haryana Real Estate Regulatory Authority (Rera), the project is expected to be completed by 2033.
As part of the agreement, Tonino Lamborghini will lead the creative direction, bringing its signature Italian design language, craftsmanship, and lifestyle philosophy across key architectural and experiential elements.
On the other hand, Signature Global will undertake the development, execution, and sales of the project.
The partnership comes at a time when the branded residences segment is gaining strong global traction in India.
India is currently ranked sixth worldwide in the branded residences segment, contributing nearly 4 per cent to global supply, according to realty consultancy firm Knight Frank’s The Wealth Report.
“Within this landscape, Gurugram has emerged as the clear frontrunner, leading the country’s branded residences growth on the back of rising affluence, a maturing luxury ecosystem, and increasing demand for globally benchmarked, hospitality-led living experiences,” Signature said in its filing.
The announcement was made during market hours. On Thursday, Signature Global’s shares were up marginally by 0.69 per cent, ending the day’s trade at ₹806.95 apiece on the Bombay Stock Exchange (BSE).
Source : Business-Standard
