Elan to spend Rs 40 billion on lavish residential complex in Gurgaon

02 Dec 2022 CW Team

Elan Group, based in Gurgaon, will spend Rs 40 billion to build 8 million sq ft of opulent housing along the Dwarka Expressway on a 40-acre plot of land it purchased from Indiabulls Real Estate in January of this year 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.

PAG is one of the biggest investment funds with a focus on Asia, and it deals in areas like private equity, private debt, real estate, and hedge funds. The project will be built out in stages, with the first stage involving the development of about 2.5 million sq ft by the company.

Also read:
Div Com reviews PMAY-Urban scheme implementation
The growth curve in Chennai real estate

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..