Bengaluru-based Sobha will invest close to Rs.10 bn in Delhi and Gurugram to develop 2.76 mn sq ft, seeking to expand its presence in Delhi-NCR. The company recently entered into a joint development agreement with a Delhi-based builder to develop 1 mn sq ft in Delhi’s Badarpur, and talks are on with a different developer to build 1.73 mn sq ft in Gurugram. The company did not divulge the names of developers.
It aims to keep the construction
cost around Rs.4,000 per sq ft to balance profitability and demand.
It is mostly looking at joint development in the National Capital Region, so that it doesn’t have to pay for land acquisition.
Contact: Sobha.
Tel: 080-4932 0000.
Website: www.sobha.com
