Birla Estates plans ₹550-cr realty project in Gurugram

Birla Estates, a B K Birla group company, has decided to invest ₹550 crore to develop 700 units of independent floors and high-rise buildings in Gurugram. The company has tied up with the Delhi-based realtor Anant Raj to develop residential township on an area of 73-acre land parcel. The project is being developed under Avarna Projects LLP, a joint venture between Birla Estates and Anant Raj Limited. Birla Estates is negotiating with more landowners to develop residential projects in a joint venture in NCR. KT Jithendran, CEO, Birla Estates, informed that the company is expecting revenue of ₹4,000 crore from the project. In Haryana, a developer can build four floors in a low-rise society and sell it independently. In the first phase, the company is developing independent floors in 47-acres, and in the remaining space, it will build high-rise buildings. It will develop 300 independent floors followed by another 400, with a starting price of ₹1.36 crore. The company has projects in Bengaluru and Mumbai (Kalyan) and is entering the NCR market with the launch of the newest project. Its upcoming township in Gurgaon meets all parameters and will bridge the gap between how residents live and how they would aspire to live.