Elan Group, based in Gurgaon, will spend Rs 40 billion to build 8 million sq ft of housing along the Dwarka Expressway on a 40 acre plot of land purchased from Indiabulls Real Estate for Rs 5.8 billion. It is a 40-acre property with a full licence, of which 30 acre are designated for residential construction and 10 acre for commercial uses. The builder would use the proceeds to pay for the building after a recent investment of roughly Rs 4.25 billion by the international alternative investment firm PAG in the business. Contact: Elan Group Tel: 012- 4410 1100 Website: www.elanlimited.com