Country's largest realty player, DLF and Singapore's sovereign wealth fund GIC have jointly decided to invest ₹12.5 billion over the next four years to construct a housing project in the national capital. DLF had entered into a joint venture with GIC for the twin projects, which will be called 'Midtown', having total development potential of about 7 million sq.ft., in Moti Nagar area in the national capital. The JV has started construction of the first phase of this project that involves 2.5 million sq.ft of built-up area of the capital. As per the new business model adopted by the company, DLF will open sale of flats in this project after it gets occupancy certificate from the government authorities. The company expects to sell apartments in this project for over ₹20,000 per sq.ft. in a project that is a part of the DLF's overall development of 38 acre land parcel at Moti Nagar. The builder bought the plot in 2007 from DCM Shriram and Lohia Group for ₹16.75 bn. The company, on its own, has developed and sold about 2,850 flats in three phases of 'Capital Greens' project where about 1,500 units for economically weaker section and a commercial building have also been developed on this site.
📅Published on:
24 August 2018
🔗Share:
We Value Your Comment
⭐How useful is this information?
Submitting...
03
Thanks for your rating! ✌️ We’d love to hear more - share your thoughts by leaving a comment
Allcargo Logistics Limited has announced its initiative to enable FMCG companies to navigate increasingly fragmented inventory flows through integrated,
GHV Infra Projects Limited has secured a road construction and civil works contract worth Rs 815 crore from APCO Infratech Private Limited in Maharashtra.
JCB India announced the inauguration of a new facility of its dealer, Caculo Earthmovers in Karaswada, North Goa, further strengthening its presence in the
The Godhra–Vadodara section of the Delhi–Mumbai Expressway has been completed and opened for traffic on a trial basis from April 13, 2026, according to the
The Rajasthan State Industrial Development and Investment Corporation will invest Rs 1,200 crore to upgrade infrastructure across more than 450 industrial
Dubai has completed its first air taxi station near Dubai International Airport, marking a major step toward launching electric air mobility services later
Informa Markets in India is gearing up to host the 23rd edition of Roof India, Asia’s premier exhibition for roofing and allied products, from 23–25 April 2026
NBM Media
30+ years of reporting on infrastructure, construction, architecture, & real estate across print, digital, and social media.
