The resolution will help properties worth Rs 1,100 crore see the light of day. The project includes two land parcels totalling 63 acres, with six million square feet of residential space.
Sare Gurugram Private Limited was initially developing this group housing project in Sector 92, Gurugram, when it faced financial difficulties and went into the Corporate Insolvency Resolution Process (CIRP) in March 2021, leading to a delay of 3 years to 8 years in the delivery of homes.