Vatika group to develop Industrial Park in Manesar Gurgaon

Gurgaon News

Realty major Vatika Group has recently announced its entry into the industrial sector wherein the group will develop its’ maiden project in Manesar Industrial area in Gurgaon. The company will be investing Rs 375 crore to develop this industrial park. According to a top company official, the park will be spread across an area of 120 acres.

Giving more information on the same, Gautam Bhalla, MD, Vatika Group, said, “We have decided to foray into this space as there is a huge demand for industrial parks and warehousing. We also have a land bank to support our growth in this segment. The rise of e-commerce and streamlining of taxes through the implementation of GST have created a huge opportunity,”

He further informed that the project will be developed as a mix of an industrial park and warehousing. The project will be located in sectors M9 and M10 of IMT Manesar, adjoining the recently-opened Kundli-Manesar-Palwal (KMP) expressway in Gurgaon.

“We are expecting to complete the project in the next 24 months and after that, we will further expand our footprints in this vertical in and around the new expressways,” Bhalla added.

Vatika Group entered the real estate sector in 1986 with an aim to create homes, schools, hotels, restaurants, retail spaces, commercial spaces and business centers that uphold unparalleled quality and reflect timelessness. The group has delivered 42.3 million sq ft of development, which includes 35.7 million sq ft residential space and 6.6 million of commercial development. Out of 35.7 million sq ft space, the group is currently constructing 6.38 million sq ft of residential space within Gurgaon only.