1 week ago
Indiabulls Adds ₹3,700 Crore Gurugram Project Pipeline
Indiabulls has agreed to develop a new housing project in Gurugram.
The project will be built on land owned by a private landlord.
It is located along the Dwarka Expressway and covers 10.84 acres.
The homes will have about 21 lakh square feet of saleable space.
The project could be worth around ₹3,700 crore when developed.
Some phases are already registered under RERA.
The company expects to launch the project around the middle of October this year.
Indiabulls will use its branding, construction, and sales skills without buying the land.
The company says this partnership approach could help it build more projects while keeping its finances flexible.
Indiabulls Limited signed an agreement to develop a 10.84-acre residential project in Gurugram.
Located on the Dwarka Expressway, the project has about 21 lakh square feet of saleable area.
The project’s estimated Gross Development Value is approximately ₹3,700 crore.
Phase 1 and Phase 3 are registered under RERA, with launch expected in mid-October this year.
The project increases Indiabulls’ total development portfolio to ₹27,308 crore through a landlord partnership model.
- Who
- Indiabulls Limited and a private landowner.
- What
- They signed an agreement for Indiabulls to develop a residential project with an estimated GDV of ₹3,700 crore.
- Where
- On 10.84 acres along the Dwarka Expressway in Gurugram.
- When
- The agreement was reported on Wednesday; the launch is expected in mid-October this year.
- Why
- Indiabulls aims to expand its project pipeline, generate development fee income, and benefit from residential demand and potential price realisation in the area.
Key facts
- Project location
- Dwarka Expressway, Gurugram
- Land area
- 10.84 acres
- Saleable area
- Approximately 21 lakh square feet
- Estimated GDV
- Approximately ₹3,700 crore
- Total Indiabulls project GDV
- ₹27,308 crore
- Expected launch
- Middle of October this year
- Development structure
- Partnership with a private landlord through a Development Management arrangement
- Share price movement
- Shares reached ₹27.36 before trading at ₹26.97 at 1:22 pm on Wednesday
Sources
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