Elan group buys 100 crore plot to develop commercial project in Gurugram

Gurgaon News

Gurugram based realty firm Elan group recently brought a 4-acre land to develop a new commercial project in the city. This will be company’s fourth commercial project in Gurugram and they are planning to invest Rs 100 crore to construct this high-end property.

Elan group director Ravish Kapoor said, “The Company plans to launch this commercial project by the end of this year after taking all regulatory approvals from the government authorities.”

The group is currently developing three other projects with an investment of Rs 900 crore in the millennium city.

Talking about their fourth project, Kapoor further elaborated that the company has purchased 4 acres of land at sector 70 in Gurugram for about Rs 100 crore. The group will develop a luxury retail/shopping mall project on this land. Moreover, its location is also a plus point for the property as it is located on Southern Peripheral Road which is considered to be an extension of golf course extension road.

“This project will have a built-up area of an estimated 7 lakh sq ft, comprising retail space and a multiplex. However, the company will sell its commercial space instead of leasing it.”

Elan group has forayed into the commercial real estate segment four years back and has created an unmatched experience with its leading-edge technologies. Out of the three ongoing projects, two will be completed next year and the third one will be completed by 2020.

The first project ‘Elan Mercado’ is spread over 3 acres with a built-up area of 4.45 lakh sq ft comprising retail area and 168 service apartments, while the second ‘Elan Town Centre’ has a built-up area of 3 lakh sq ft over two acres of land parcel.

The third project ‘Elan Miracle’ is spread over 5.9 acres on Dwarka Expressway and comprises 9.8 lakh sq ft retail and office space besides 108 service apartments.

With a team of highly experienced architects and engineers, the group has deep expertise in areas of conception, material, construction, maintenance, and customer satisfaction.