Birla Estates, a wholly-owned subsidiary of Century Textiles and Industries Ltd, B K Birla Group has recently announced the launch of premium low-rise and group housing project at Golf Course extension road, Gurgaon. The group has joined hands with leading realty firm Anant Raj Group to develop this project with an investment of Rs 760 crores.
The group has recently informed about this Joint venture on the 50:50 basis. With this venture, Birla Estates is now foraying its leg into the realty market of Gurgaon after Mumbai (Kalyan) and Bengaluru.
The residential development in Gurgaon will be spread over 73 acres of area with saleable area potential of around 3.5 million sq ft. The gates complex will comprise of low-rise development as well as a group housing development.
Speaking during the launch, Birla Estate CEO K T Jithendran said, “After venturing into the market of Mumbai and Bangalore, the company has now decided to spread its leg into the high profile market of Gurugram. With the presence of very few quality residential developments on the Golf Course extension road, our joint development model will definitely offer investors and buyers a high price appreciation in the future.”
The housing project would have a booking value potential of over Rs 4,000 crore.
The construction of the project will start in November this year and it will be available for possession in the next 3-4 years. Situated in Sector-63 A of Gurgaon, the project enjoys smooth connectivity with other commercial and residential hubs of the city.
Further to this development, the company has also recently announced to develop a portfolio of approximately 200 acres across various cities like Mumbai MMR region, Pune and Bangalore property markets.