Paras Buildtech Plans ₹500 Crore Investment in Gurugram Project

Paras Buildtech, a realty firm, is set to invest approximately Rs 500 crore in the development of a luxury housing project in Gurugram, marking a strategic move amidst robust demand in the sector. In a statement released on Monday, the company announced the launch of its super-luxury project, "The Manor," situated at Gwal Pahari in Gurugram.

The project, spread across 4.26 acres, will comprise 120 apartments. "We are introducing a new ultra-luxury project in Gurugram, with each apartment priced at around Rs 9 crore," stated Kunal Rishi, COO of Paras Buildtech.

The company anticipates generating a total revenue (topline) of Rs 1,200 crore from this launch, with an investment of Rs 490 crore in the project. Each apartment will span approximately 4,750 square feet, and the project is slated for completion by August 2028.

"Gwal Pahari has undoubtedly become a preferred destination for homebuyers in Delhi NCR. Its strategic location ensures seamless logistical connectivity between Delhi and Gurugram," added Rishi.

With a track record of delivering 15 million square feet of retail, commercial, and residential spaces, Paras Buildtech continues to solidify its presence in the real estate market.

ET