Bhumika Group steps into NCR real estate with project in Faridabad

23 Aug 2023 CW Team

Bhumika Group, a developer based in Rajasthan, is preparing to make its entry into the real estate market of the National Capital Region (NCR). The company is all set to unveil its inaugural high-street commercial endeavour on Mathura Road in Faridabad. With an anticipated investment of Rs 6 billion, the project is scheduled for completion over the next four years.

Collaborating in a joint venture with the Amolik Group, a Faridabad-based company, the project will encompass a sprawling five-acre expanse within sector 21 of Faridabad, Haryana. The primary objective of the venture is to fashion a high-street mall that spans an impressive 5.5 lakh square feet of saleable area. The projected revenue from this undertaking is estimated to reach Rs 10 billion.

Uddhav Poddar, the Managing Director of Bhumika Group, expressed his pride in introducing this high street project, emphasising their longstanding commitment to creating spaces that seamlessly blend shopping pleasures with community-centred environments. The entire development is planned as a singular phase, and construction is projected to unfold over a span of four years.

In terms of financing, Poddar outlined a strategy involving pre-sales, internal financial resources, and institutional investments to fund the project. Additionally, he revealed that Bhumika Group envisions launching a residential project in Faridabad in the forthcoming future. Notably, the company has recently inaugurated the Urban Square Mall in Udaipur.

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