Gurugram: Sobha inks deal to construct residential project

08 Aug 2024 CW Team

Gaurav Kumar, Managing Director of Capital Markets and Land at CBRE, remarked that the Gurgaon residential market continues to attract significant interest from developers due to strong end-user demand dynamics. He noted that the Golf Course Extension is emerging as the epicentre of luxury living, featuring a range of high-end residential condominiums, office parks, schools, and retail malls.

One source familiar with the deal stated that joint development agreements (JDAs) represent an asset-light model for developers looking to enter new markets and develop projects. They highlighted that, in Gurgaon, where acquiring land is becoming increasingly difficult, joint development is the way forward.

Shalin Raina, Managing Director of Residential Services for Cushman & Wakefield, explained that the Golf Course Extension has quickly become one of the most sought-after real estate micro-markets, attracting both investors and developers. He noted that the market has experienced exponential growth, driven by the presence of top-tier developers setting new quality standards and significant infrastructure improvements, including well-maintained roads, ample parking, and reliable public utilities.

Sobha plans to launch approximately 9 million square feet in FY25, with the remaining launches scheduled subsequently, representing a 30% increase from the previous year's 7 million square feet. The company stated that it is actively working to bring the remaining land bank into project stages, estimating a potential of between 25 million to 30 million square feet. They intend to continue adding to future launches as work progresses throughout this year and the next.

Additionally, the company mentioned that it had added two projects in Gurgaon?one in Sector 99 and another in Sector 63?both of which are expected to launch within the next 12 months.

Bengaluru-based realty developer Sobha Ltd has entered into a joint development agreement with a Gurgaon-based firm to develop a residential project in Sector 63A on a 12-acre site, according to sources familiar with the matter. Sobha is already working on two projects in Gurgaon, making this its third. Gaurav Kumar, Managing Director of Capital Markets and Land at CBRE, remarked that the Gurgaon residential market continues to attract significant interest from developers due to strong end-user demand dynamics. He noted that the Golf Course Extension is emerging as the epicentre of luxury living, featuring a range of high-end residential condominiums, office parks, schools, and retail malls. One source familiar with the deal stated that joint development agreements (JDAs) represent an asset-light model for developers looking to enter new markets and develop projects. They highlighted that, in Gurgaon, where acquiring land is becoming increasingly difficult, joint development is the way forward. Shalin Raina, Managing Director of Residential Services for Cushman & Wakefield, explained that the Golf Course Extension has quickly become one of the most sought-after real estate micro-markets, attracting both investors and developers. He noted that the market has experienced exponential growth, driven by the presence of top-tier developers setting new quality standards and significant infrastructure improvements, including well-maintained roads, ample parking, and reliable public utilities. Sobha plans to launch approximately 9 million square feet in FY25, with the remaining launches scheduled subsequently, representing a 30% increase from the previous year's 7 million square feet. The company stated that it is actively working to bring the remaining land bank into project stages, estimating a potential of between 25 million to 30 million square feet. They intend to continue adding to future launches as work progresses throughout this year and the next. Additionally, the company mentioned that it had added two projects in Gurgaon?one in Sector 99 and another in Sector 63?both of which are expected to launch within the next 12 months.

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Real Estate

09 Mar 2026

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Real Estate

09 Mar 2026

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..