How Signature Global Built Its Business on Affordable Housing

India's urban housing shortage is concentrated among lower and middle-income households, for whom market-rate homes in cities like Gurgaon are often out of reach. Signature Global, founded in 2014 and headquartered in Gurugram, built its early business around this gap by developing flats under Haryana's Affordable Housing Policy. This article explains how that model works, how the company has evolved since, and what buyers of affordable-policy homes should check. It is not an endorsement of any project.

The policy behind the model

The Haryana Affordable Housing Policy 2013, notified in August 2013 under the state's urban development law, allows developers to build group-housing colonies of compact flats on licensed land. In return for licence and planning concessions, the state controls the terms of sale:

• Size: flats within a fixed carpet-area range (28–60 sq m under the policy).
• Price: a maximum allotment rate per sq ft of carpet area set by the state, plus a fixed balcony rate. After a July 2023 amendment, the Gurugram rate was Rs 5,000 per sq ft of carpet area and balconies were charged at Rs 1,200 per sq ft. In March 2026, reports said the rate was being raised by about 12%, to around Rs 5,575 per sq ft, for projects where allotment was not complete.
• Allotment: by a supervised draw of lots, not first come, first served. Applicants who do not already own a home in Haryana, Chandigarh or Delhi get preference.
• Payment: 5% with the application, 20% on allotment, and the balance in equal six-monthly instalments over three years.
• Delivery and upkeep: possession within four years of building-plan or environmental approval, and free maintenance by the developer for five years after the occupation certificate.

Our Haryana affordable housing policy guide covers the rules in more detail.

How Signature Global used the model

Under fixed prices, a developer's margin depends on keeping land and construction costs low and moving quickly from approval to sales. The approaches typically associated with affordable-policy developers, including Signature Global, are:

• Land in emerging sectors: projects in newer parts of Gurgaon such as New Gurgaon, the Dwarka Expressway sectors and Sohna, where land was cheaper than in established areas.
• Standardised designs: repeated unit plans and tower layouts to control construction cost and time.
• Volume and pace: several projects running at once, with the policy's draw-based sales bringing in early cash flow.
• Green ratings: some projects were marketed with green-building ratings. For example, the company described The Millennia IV in Sector 37D, launched in January 2022 with 814 two-bedroom units, as IGBC Gold rated.

Over the years the company has marketed affordable-policy projects in several Gurgaon sectors, including 37D, 81, 93, 95A and 103. It has also developed DDJAY plotted and independent-floor communities in areas such as Sohna. Before relying on any particular project, check its policy category and its HRERA status.

From affordable to mid-income and premium

By its own account, Signature Global expanded into mid-income housing in 2017 and entered the premium segment in 2024. It listed on the BSE and NSE in 2023. The company reports about 19.2 million sq ft delivered as of Q1 FY27. That is a company-reported figure, best read alongside HRERA records for individual projects. The move into higher segments reflects a wider industry trend: new affordable-policy launches slowed as land and construction costs rose faster than the capped rates, which is why developers pushed for the 2023 and 2026 rate revisions.

For a current view of the company's Gurgaon pipeline, see our Signature Global developer profile.

Wider impact, in context

Affordable-policy projects from Signature Global and other developers have given many first-time buyers in Gurgaon a route to a registered, gated home at a regulated price. This segment remains small compared with the city's premium supply, though, and rising rates have stretched affordability. Claims that any single developer has "solved" affordable housing should be treated with caution.

Government support for buyers

PMAY-Urban 2.0, approved by the Union Cabinet in August 2024, includes an interest subsidy of 4% on home loans of up to Rs 25 lakh for eligible EWS, LIG and MIG families, alongside other housing verticals. Eligibility depends on income, home ownership and the value of the house, so check with your lender. Separately, Haryana's Mukhyamantri Shehri Awas Yojana, launched in September 2023 for families with annual income below Rs 1.8 lakh, offers flats only in Gurugram and other large cities.

Checklist for affordable-policy buyers

1. Confirm that the project is registered under the Affordable Housing Policy, and check its HRERA registration and completion date.
2. Read the draw notice: the allotment rate, eligibility, the payment schedule and the penalty for default.
3. Check the carpet area of your unit and the balcony area charged separately.
4. Find out what the five-year free maintenance covers and the expected charges after that.
5. Check access roads, water and sewer connections, and commute times.
6. Read how much house you can afford before you commit to instalments.

Frequently asked questions

When was Signature Global founded?

Signature Global was founded in 2014 and is headquartered in Gurugram. It began in affordable housing, moved into mid-income housing in 2017 and premium housing in 2024, and listed on the stock exchanges in 2023.

How are prices fixed in Haryana affordable housing projects?

The state sets a maximum rate per sq ft of carpet area, plus a balcony rate. For Gurugram it was Rs 5,000 per sq ft after July 2023, and March 2026 reports said it was being raised to about Rs 5,575 for pending allotments.

Can I get a PMAY subsidy on an affordable-policy flat?

Possibly. PMAY-U 2.0, approved in August 2024, offers a 4% interest subsidy on home loans of up to Rs 25 lakh for eligible EWS, LIG and MIG families. Confirm your eligibility with your lender.

Are all Signature Global projects affordable-policy projects?

No. The company now also builds mid-income and premium projects. Check the policy category and HRERA details of the specific project.

How NStay Homes can help

NStay Homes helps first-time buyers understand affordable-policy draws, check project registration and work out the full instalment schedule before applying. Speak to NStay Homes advisor Naresh Shekhawat on 911 911 9605.