Press Trust of India
Realty firm Birla Estate has partnered with Barmalt India to develop a luxury project in Gurugram with an estimated revenue of Rs. 5,000 crore. Birla Estate is the real estate venture of the Aditya Birla Group and a 100 percent wholly-owned subsidiary of Century Textiles and Industries Ltd.
In a regularity filling, Century Textiles and Industries said it has entered into a joint venture with Barmalt India Pvt Ltd for a luxury residential group housing development in Sector 31, Gurugram.
The land parcel is spread across 13.27 acres with a development potential of approximately 2.4 million square feet, offering a revenue potential of approximately Rs. 5,000 crore, it added.
K T Jithendran, MD & CEO of Birla Estates said, “We expand our footprints in the Delhi-NCR region, we’re pleased to announce the addition of this new project in one of Gurugram’s most promising micro markets.”
Well-positioned in Sector 31, the project enjoy seamless connectivity to Cyber City, Golf Course and Sohna road. The location is swiftly accessible to City Center 29, and Signature Tower. The strategic location of the land parcel bring 32nd Avenue and Crowne Plaza in close proximity.
On the development, Akshi Jindal, CEO of Barmalt India, said, “having deep roots in Gurugram, Barmalt shares a strong relationship and connection with the city. Our collective market expertise and vision will undoubtedly redefine the residential landscape in Gurugram, offering homebuyers an unparalleled lifestyle experience.”
