New York-based FDI-funded realty firm Brahma group is all set to enter the commercial real estate space of Gurugram. The company has recently announced to invest Rs 1,700 crore to develop an office-cum-retail project at Gurugram.
Giving more details about the development, Brahma Centre Development Vice President Puneet Khullar said, “We are entering the commercial real estate project. We are developing a mixed-use project on an over 12-acre land parcel at Gurugram comprising 1.3 million sq ft of leasable area,”
He further said that the project will be located on Delhi-Gurugram expressway and will have 4 lakh sq. ft. of office space while rest would be retail, food, and entertainment.
The construction work of the project has already been started and the completion is expected by the end of next year.
“The project cost is around Rs 1,700 crore and the same is being met through internal accruals and debt. The company has not yet started the leasing process and will soon appoint property consultants for this purpose.” he added.
Brahma group is an asset management firm concentrating majorly on the Indian real estate sector. The company is headquartered in New York and is committed to undertake an investment towards the development of India’s changing urban landscape.
Currently, the company is developing over 200-acre township project at Panchkula in partnership with real estate major DLF. About 1,800 villas have already been delivered in this project,
Also, they have tied up with real estate giants, Adani Realty to develop an integrated township ‘Samsara’ on 141-acre land in Gurugram.