Elan Group launches Rs. 400-cr realty project

Elan Group Realty Project
To build a mega commercial real estate project matching global standards, realty firm-Elan group, a Gurgaon-based firm, engaged in the development of residential, commercial, and hospitality projects in north India, has bought 7 acres of land in Gurgaon from Essel group's Suncity Projects at an investment worth Rs. 120-cr to develop a commercial realty project at an investment worth Rs. 400cr, Director, Ravish Kapoor said.

On the construction of this mixed-use commercial project comprising a total developable area of 1.3 million sq. ft., the company is planning to launch this project in October with 2 lakh sq. ft. of office space, 7 lakh sq. ft. of retail and multiplex, a hotel of about 200 rooms and 350 service apartments. Elan is currently constructing two commercial projects in Gurgaon comprising total developable area of 8 lakh sq. ft. The first Elan Mercado has 3.5 lakh sq. ft. of developable area and the second project 'Elan Town Centre' has 4.5 lakh sq. ft. of area. These two projects would also have multiplexes with 20 screens, he added.
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