Published On:June 6 2024
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Birla Estates Announces ₹5,000 Crore Housing Project in Gurugram

Birla Estates Announces ₹5,000 Crore Housing Project in Gurugram

Birla Estates, the realty arm of Aditya Birla Group's Century Textiles and Industries, is set to transform a 13.27-acre land parcel in Gurugram into a luxury housing project with a revenue potential of ₹5,000 crore. This development comes through a joint venture agreement with Barmalt India, providing a development potential of 2.4 million square feet, according to a company release.

Situated in an upscale micro-market in Gurugram, the project boasts excellent connectivity to Cyber City, Golf Course Road, and Sohna Road, along with proximity to commercial hubs such as City Centre 29, Signature Towers, 32nd Avenue, and Crowne Plaza. The location also offers easy access to the metro line.

The micro-market features premium residential developments, schools, hospitals, and 5-star hotels, enhancing the appeal of the new project.

This development marks Birla Estates' further expansion into the Delhi-National Capital Region (NCR). Last fiscal year, the company sold houses worth ₹277 crore in the area, with 13.5% of its total projects located in NCR.

A recent entrant to the real estate market, Birla Estates has projects in Mumbai, Bengaluru, NCR, and Pune, with a revenue potential exceeding ₹45,000 crore across 24.4 million square feet. The company owns nearly 76 acres of land in these cities, with a gross development value of approximately ₹14,500 crore.

HBL





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