The DLF group planned to make an investment of Rs. 750 crores to develop a new commercial project in Gurugram. This investment is being planned by the DLF group as the company wishes to encash the increasing demand of office and retail space from the investors, sources said.
This new commercial project will be developed at 2.5 million sq. ft. area of the Gurugram city. Instead of going for a lease-model, the company will sale office and retail space of this project, sources informed.
The company has previously sold the DLF Corporate Greens project that is spread across 2.5 million sq. ft. land and is located on Southern Peripheral Road, Sector 74A, Gurugram.
The DLF group owns more land parcels that are adjacent to the Corporate Greens project and the same is planned to be developed.
According to the sources, Rs. 750 crore is estimated to be the cost of project and the construction of the same will begin soon.
In India’s capitalization market, the DLF group is the leading company and they work on both the lease-model as well as on the sale model.
At present, the company has over 30 million sq. ft. of leased commercial properties and a rental income of more than Rs. 3,000 crore.
The DLF group ventured into rent-yielding commercial assets with DLF Cyber City Developers Ltd (DCCDL). The company holds 66.66 percent stake in DCCDL while Singapore’s sovereign wealth fund GIC holds the remaining 33.34 percent.