Buy Multiple Studio Apartment On Dwarka Expressway

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Studio Apartment On Dwarka Expressway Shapoorji and Phoenix Project

Shapoorji Pallonji Group and Phoenix 

A large cricket-cum-football stadium is also being planned, besides a retail area.

Detailed view of the project

Omaxe Ltd Chairman Rohtas Goel said: "We have bagged a project from DDA, located in Dwarka, New Delhi." It will be the first sports facility to be developed by the DDA in PPP (Public Private Partnership) model.

"We will develop a world-class cricket stadium and sports complex in this Studio Apartment On Dwarka Expressway. It will be a marquee project facilitating the sports infrastructure at par with global standards," Goel said.

The retail portion would offer spaces for shopping, dining, and sports-related activities. "This project will be a big boost to the infrastructure upgradation in the National Capital and is likely to create a huge economic multiplier effect," Goel said.

Omaxe will build and maintain the sports stadiums and clubs for 30 years, thereafter it would be handed over to DDA. The commercial area developed by Dwarka Expressway Projects will be for a leasehold period of 99 years. The land parcel of 50.40 acre is being handed over to Omaxe for development of sports arena and commercial area.

As per the agreement, Omaxe will develop an outdoor stadium with a minimum 30,000 seating capacity. It will be an international cricket-cum-football stadium/ football stadium. Indoor sports facilities will have 2,000 seating capacity.

The sports complex will also have an olympic size swimming pool and also facilities for tennis, badminton, squash and table tennis.]

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The project will have a membership-based sports club with minimum 3,000 members. In the commercial area, Omaxe will develop about 3.5 lakh square feet of retail space.

Other projects of the company

In April, the company had raised from Värde Partners to expedite construction of its existing projects as well as expand its business. Omaxe Group is developing integrated townships in New Chandigarh, Lucknow, Ludhiana, Indore and Faridabad.

It is also developing a multilevel parking-cum-commercial project in PPP model with North Delhi Municipal Corporation in Chandni Chowk, Delhi. Omaxe has delivered about 130 million square feet area in real estate and construction contracting businesses.

The company has presence in 27 cities across eight states/UTs namely Uttar Pradesh, Madhya Pradesh, Punjab, Haryana, Uttarakhand, Rajasthan, Delhi and Himachal Pradesh.

Omaxe has a diversified product portfolio that includes hi-tech townships, integrated townships,
New Commercial Projects On Dwarka Expressway Gurgaon group housing, shopping malls, office spaces, SCOs and hotels. It is currently undertaking 21 real estate projects: three group housing, 12 townships, and six commercial projects.

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. (LiveMint) 1 min read . Updated: 12 Aug 2022, 02:34 PM IST PTI

Elan Group buys 7.65 acre land in Gurugram from Ambience group for over ₹200 cr

Realty firm Elan Group has acquired 7.65-acre land from Ambience group in Gurugram for over ₹200 crore 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 over ₹200 crore 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.
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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 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 Best Residential Projects On Dwarka Expressway feed without modifications to the text.

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Global firm PAG invests $50 mn in Gurgaon-based real estate developer Elan

The investment will be used as growth capital for upcoming projects, said the Elan Group company. "This deal assumes great significance for the Elan Group with a global fund like PAG reposing confidence in the group's management and established development track," said Sandeep Agarwal, chief financial officer, Elan Group. Cushman & Wakefield was the transaction advisor for deal.

"The traction in the credit space in the NCR (National Capital Region) market reflects our continued belief in the region's real estate growth story, with Dwarka Expressway fast emerging as NCR's most sought-after micro market," said Saurabh Shatdal, MD, land and capital markets, Cushman & Wakefield.

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