Real estate company Ganga Realty, with headquarters in Gurugram, has said that it will invest Rs 4 billion in Swarnim, its first high-street "neighbourhood" retail project, in Sector 5 of Gurugram. The company has announced its affordable housing project in Sohna Road; this project would be its second large-scale endeavor. The project would have convenient connectivity to IGI Airport and KMP Expressway and is situated 20 minutes from the proposed metro station. With a total land area of 2.7 lakh square feet, the development will mostly be commercial and retail.
According to a release from the company, the project will have about 650 shops with numerous brand and amenity stores and will be built next to about 3,000 residential units. According to the announcement, over 25,000 families will probably relocate to the same area in the near future, which offers the project enormous chances for significant returns on investment.
Retail stores, banquets, a multiplex, and theme restaurants will also be included. Over 200 brands are anticipated to transform the project's retail environment. All retail and office space will be leased to individual investors under the project's 100% lease model. Shops will have exclusive terrace rights and double heights. Additionally, the project will give mechanical equipment its own space.
The company expects to deliver the project by the end of 2025.
Vikas Garg, JMD, Ganga Realty adds, “The funds for construction of the Swarnim project would be met by internal accruals and customer advances which are being planned. With deliveries and possessions already in process, we expect a huge population to shift within couple of years in close vicinity. This movement will thus push demand for retail and majorly for retail properties in this region”.
See also:
Ganga Realty to invest Rs 750 cr to build affordable housing project
Delhi Budget to have 'biggest outlay' for infrastructure projects
