DLF has decided to invest over ₹1,400 crore to develop a commercial project in Gurugram after the firm received a green nod to expand the office space by nearly 1 million sqft. After the Haryana government increased the floor area ration (FAR) under its new TOD (Transit Oriented Development) policy, DLF applied for development of increased build up area in its ongoing Cyber Park project spread over nearly 12 acres. The environment ministry has given the green nod after taking into account recommendations of the Expert Appraisal Committee. As per the proposal, the DLF will now invest ₹1,439.11 crore to develop the Cyber Park project, as against the earlier estimate of ₹412.67 crore. According to sources, the company will get a leasable area of around 2.5 million sqft as against the earlier 1.7 million sqft. Construction of this project, which is located close to Cyber City and commands a high rental value, is in an advanced stage and the company has already pre-leased about 60% of the area.
📅Published on:
06 September 2018
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