Beneficial Best Residential Projects On Dwarka Expressway

The company will develop about one million square feet area on a land parcel -- located at Sector 82 in Gurugram -- comprising office, retail, service apartments, and a hotel.

As per the sources, the total consideration includes statutory dues to the government and take over of some debt.

Elan Group's spokesperson declined to comment.

In January, the Gurugram-based developer acquired 40 acres of land in Gurugram from Indiabulls Real Estate Ltd (IBREL) for Rs 580 crore.

Located at Sector 106, Best Residential Projects On Dwarka Expressway, the 40-acre land parcel is fully licensed for the development of housing and commercial projects. About 30 acres of land is meant for residential development and the rest 10 acres for commercial development.

This will be Elan's first residential project with a total development potential of around 5 million sq ft.

The company intends to launch the two projects in Sector 106 and Sector 82 of Gurugram this year.

Elan Group to date has launched 8 commercial projects in Gurugram. Three projects have been delivered and five are under construction. It is on of the leading commercial real estate developers in the city.

The real estate sector has witnessed a strong revival, especially the residential segment, after the outbreak of the second wave of the COVID-pandemic. Dwarka Expressway Projects Ready To Move sales, as well as leasing of commercial spaces, have increased year on year in the January-June period this year.

The developers are buying land outright and also partnering with the landowners to expand their businesses.

Gurugram: Land near Dwarka Expressway sold for over ₹200 crore

The company will develop about one million square feet area on the land parcel. (LiveMint)Premium The company will develop about one million square feet area on the land parcel. 

Realty firm Elan Group has acquired 4 Bhk Flats On Dwarka Expressway from Ambience group in Gurugram to develop a commercial project as part of its expansion plan, according to sources.

The company will develop about one million square feet area on this land parcel -- located at Sector 82 in Gurugram -- comprising office, retail, service apartments and a hotel.

As per the sources, the total consideration of includes statutory dues to the government and take over of some debt.

Elan Group's spokesperson declined to comment.

In January, the Gurugram-based developer acquired 40 acres of land in Gurugram from Indiabulls Real Estate Ltd (IBREL) for ₹580 crore.

Located at Sector 106, Dwarka Expressway, Gurugram, the 40-acre land parcel is fully licensed for the development of housing and commercial projects. About 30 acres of land is meant for residential development and the rest 10 acres for commercial development.

This will be Elan's first Resale Apartments On Dwarka Expressway with a total development potential of around 5 million sq ft.

The company intends to launch the two projects in Sector 106 and Sector 82 of Gurugram this year.

Elan Group to date has launched 8 commercial projects in Gurugram. Three projects have been delivered and five are under construction. It is one of the leading commercial real estate developers in the city.

The real estate sector has witnessed a strong revival, especially the residential segment, after the outbreak of the second wave of the COVID-pandemic. Housing sales, as well as leasing of commercial spaces, have increased year on year in the January-June period this year.

The developers are buying land outright and also partnering with the landowners to expand their businesses.

This story has been published from a wire agency feed without modifications to the text.

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“The high-growth stretch is witnessing the launches of both commercial and residential projects. With greater connectivity and newer investment opportunities, both builders and investors have a positive affinity for the corridor. It is surely attracting end users as they will be far from the overly crowded areas of Delhi NCR, benefiting from the given range of homes (2,3,4 BHK) being developed by renowned builders,” said Shashank Vashishtha, Executive Director, eXp India.

The Delhi-Haryana Western corridor is also gearing up for multi-sector development with Dwarka Expressway. The Dwarka sub-city project has also been commissioned to urbanize the entire west Delhi region, as other parts in the city are overcrowded and laden with high property rates.

“Owning to the exceptional connectivity, presence of excellent social infrastructure and improved liveability index, Dwarka Expressway is now one of the most sought-after real estate destinations. The latest announcement on the commencement of vehicular operations in 2023 will bring cheer to the developers, investors and end-users alike, with a promise of better living and higher return on investments. The seamless connectivity to Delhi, bypassing traffic decongestion on Delhi – Gurgaon expressway, and its proximity to Southern Peripheral Road, National Highway 8 & KMP Expressway are bound to have a multiplier effect on real estate value, making the region the best investment choice for homebuyers,” said Santosh Agarwal, CFO, and Executive Director, Alpha Corp.

Another factor it is attracting eyeballs is because it is India’s first expressway to have an urban forest cover, 30 times denser than a traditional city green plantation. One could imagine how this facelift will drive more interest in the region’s overall growth. Slated as one of the largest highway projects in the country, Dwarka Expressway is said to be a promising investment for homebuyers and commercial investors alike.