DLF announces to pour Rs 1,400 crores in a commercial project in Gurgaon

Gurgaon News

Renowned realty developer DLF has recently announced to invest over Rs 1400 crores to develop a commercial project in Gurgaon. The project has just received a green nod from the environment ministry to expand the office space in Gurgaon by nearly 1 million square feet area.

The Haryana Government has recently increased the floor area ration (FAR) under its new TOD (Transit Oriented Development) policy. Immediately after, the DLF applied for the development of increased build-up area in its ongoing Cyber Park project spread over nearly 12 acres.

Sources said that the green nod only came after taking into account the recommendations of the Expert Appraisal Committee. The approval is solely subject to the compliance with certain conditions.

Earlier DLF was supposed to Rs 412.67 crore in expanding cyber park project, but now with ministry’s permission, they will now pour-in Rs 1,439.11 crore for the development. According to the new proposal, the company will now get a leasable area of around 2.5 million square feet as against earlier 1.7 million square feet. Also, the number of vehicles parking will increase from 3,542 cars to 4,425 cars.

The proposal which was given by DLF further added that the new construction will generate more employment and will also fuel up the rentals in the area. The company sources informed that it has already pre-leased about 60 percent of the area.

One of the country’s largest real estate firm and with over 70 years of experienced track record, DLF group forte in sustained growth, customer satisfaction, and innovation.