Signature Global, RMZ form JV; to invest ₹7,500 crore on commercial project in Gurugram

Realty firm Signature Global has formed a joint venture with RMZ Group to develop a commercial project in Gurugram with a total investment of around ₹7,500 crore.

Gurugram-based Signature Global and Bengaluru's RMZ Group have formed a 50:50 joint venture to develop an 18-acre commercial project at Southern Peripheral Road (SPR), Gurugram.

The project will have a leasable area of 55 lakh square feet, of which about 35 million sq ft would be prime office space, and the remaining area for retail spaces and two hotels of around 500 rooms each.

RMZ has committed an investment of ₹1,283 crore to acquire a 50 per cent equity stake in the project, Signature Global said in a regulatory filing on Saturday.

As part of the transaction, Signature Global subsidiary firm Gurugram Commercity Ltd (GCL) and RMZ entity Millennia Realtors have entered into a Securities Subscription and Purchase Agreement (SSPA).

Under the SSPA, RMZ entity will acquire a 50 per cent equity stake in GCL through a combination of share purchase and share subscription.

The JV firm owns an 18-acre land parcel.

"With this JV with RMZ Group, we are entering into large-scale commercial real estate development in a big way," Signature Global Chairman Pradeep Aggarwal told reporters here.

He said the company, mainly in the housing segment, has created a platform with RMZ Group, which has expertise to develop commercial assets.

Asked about the total investment, Signature Global CEO Rajat Kathuria said it would be around ₹7,500 crore, including land and construction costs.

The total capital value of the development upon completion is expected to be in the range of ₹14,000-16,000 crore, the filing said.

Manoj Menda, Corporate Chairman, Supervisory Board, RMZ, said the company intends to extend its partnership with Signature Global for commercial projects across the country.

Menda said the demand for office spaces in India remains strong.

Global Capability Centres (GCCs) are major drivers of premium workspaces, he added.

Menda asserted that the office demand would not be impacted because of the work-from-home and hybrid model.

He also ruled out any impact of AI (artificial intelligence) on the Indian job market.

"The Southern Peripheral Road is rapidly emerging as a preferred commercial corridor, supported by strong occupier demand and improving infrastructure," Menda said.

This project aligns well with RMZ's focus on developing institutional-grade commercial assets with long-term leasing potential.

"Signature Global's execution capabilities and deep understanding of the Delhi-NCR market make them an ideal partner," Menda said.

Signature Global was the fifth-largest listed real estate firm last fiscal, with sales bookings of Rs 10,290 crore.

The company has delivered 16.5 million square feet of real estate.

RMZ Group is mainly into commercial real estate.

Founded in 2002, RMZ has developed and owns over 70 million square feet of assets across six major Indian cities, with assets in excess of $20 billion.

Published on February 14, 2026