New Delhi: Real estate developer Ganga Realty will invest Rs 1,200 crore to develop a luxury housing project in Gurugram, Haryana.

Spread over 5 acres, Project Anantham will consist of 524 units in three 59-storey towers.

In a statement on Tuesday, Gurugram-based Ganga Realty said it will "invest Rs 1,200 crore" to develop this uber-luxury residential project.

The company is aiming to achieve a sales target of Rs 2,000 crore from this project.

Vikas Garg, joint managing director of Ganga Realty, said the company will focus on sustainable living and use smart technologies in this project. The price of the unit will start from Rs 16,500 per square foot.

“We are hoping to complete this project in the next five years,” he said.

Ganga Realty's projects are located in Gurugram, mainly on Dwarka Expressway and Sohna Road.