GBP Group plans ₹600-cr townships in Zirakpur

Given the emerging business avenues in the realty sector on the outskirts of Chandigarh, GBP Group has decided to invest ₹600 crore to develop a township in Zirakpur. In the new township, stretching across an area of 32 acres, the company will develop 700 flats, 400 plots and 750 commercial units. The project is being developed through bank loans and internal accruals. The company will offer possession of plots within six to nine months, residential units within two-three years and commercial units in 18-24 months. According to Raman Gupta, Director of Branding & Construction GBP Group, in the surrounding areas of Chandigarh, prices are three times as compared to prices in Zirakpur and due to this, the demand is expected to rise in this city because of higher population growth. GBP Group, which was established, in 2012, has so far delivered 14 projects spread over an area of 10 million sq ft and the construction work is in full swing on nine more projects being built on an area of 6 million sq ft.