July 16, 2024 |
Birla Estates Secures 5-acre Land in Gurugram to Develop Luxury Housing, Eyes Topline of Over Rs 1,400 Cr
Birla Estates plans to bring a luxury residential project on the land parcel, located in sector 71 of Gurugram. The project has a development potential of around 10 lakh sqft and the company targets to generate a revenue of over Rs 1,400 crore.
Birla Estates Private Limited, a wholly-owned subsidiary of Century Textiles and Industries Limited and the real estate venture of the Aditya Birla Group, is all set to expand its footprint in the national capital region (NCR) as the realty firm has acquired a five-acre land parcel in Gurugram.
Birla Estates plans to bring a luxury residential project on the land parcel, located in sector 71 Gurugram. The project has a development potential of around 10 lakh square feet (sqft) and the company targets to generate a revenue of over Rs 1,400 crore, it said on July 15.
Situated on Southern Peripheral Road (SPR) Road in Sector 71, the project will offers connectivity to Delhi and other parts of Gurugram via the Dwarka Expressway, Sohna Road, and Golf Course Extension Road.
“Gurugram has been a pivotal market for us from the outset. The real estate potential in this micro-market is immense and reinforces our strong focus in the Delhi-NCR region. With this acquisition, we aim to cater to homebuyers seeking exclusivity and distinctive living experiences. At Birla Estates, our commitment transcends luxury; our ethos is to embrace a vision of residences that embody a legacy of dedication and excellence,” K. T. Jithendran, MD and CEO at Birla Estates said.
Birla Estates has undergoing projects at Golf Course Extension road and Sector 31 in Gurugram and also at Mathura Road in New Delhi.
In June this year, Birla Estates had signed a pact to enter into a joint venture (JV) with Barmalt India to develop a 13.27-acre land parcel for a luxury residential group housing at sector 31 in Gurugram.
Century Textiles ventured into the real estate sector through its wholly-owned subsidiary Birla Estates in 2016. Birla Estates boasts a diversified portfolio encompassing residential, commercial, and mixed-use properties.
Source : Money Control
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