Real estate firm Sunil Mantri said that it will invest Rs 2,000 crore on developing a 2,000-acre residential project in Gwalior over the next decade.
The company signed an MoU with the Special Area Development Authority, Gwalior, to carry out the project under public-private-partnership model, the company said in a statement.
As per the MoU, the realty firm would set up a Hi Tech city over an area of 2,000 acres, comprising 25,000 housing units.
The company has already acquired 375 acres for creating housing for the low and mid-income people.
Around 5,000 houses would be provided in this project and the developments work would be commissioned by October this year.
It is currently developing three new projects in Gwalior, consisting of residential, a shopping mall cum multiplex and commercial spaces.