Smart World to invest Rs 3,000-cr in residential projects in Gurgaon
Smart World Developers, backed by India Infoline, Piramal Group and the Bansal family and promoters of M3M group, has announced its plan to invest Rs 3,000 crore in constructing about eight million sq. ft. of residential space across three projects in Gurugram. The first phase of these projects is expected to be launched soon. The company will be launching these projects in Sector 113, Sector 66 and Sector 79 of Gurugram, while also evaluating the possibility of building projects in Mumbai, Bengaluru and Pune.
In Sector 113, the land has a total development potential of 4.5 million sq. ft., of which the company will develop around three million sq. ft. in the first phase. The project in Sector 66 will be a luxury high-rise building, with around 2.5 to three million sq. ft. of space expected to be launched in the first half of 2023. The company also plans to develop 8.5 million sq. ft. in Sector 79 in multiple phases.
Smart World Developers recently launched a premium high-street retail project, 'Smartworld Orchard Street', in Sector 61 of Gurugram, spread over 1,00,000 sq. ft. This project is spread across three floors, with units ranging from 500-12,000 sq. ft., and is expected to generate revenue worth Rs 250 crore.
In Sector 113, the land has a total development potential of 4.5 million sq. ft., of which the company will develop around three million sq. ft. in the first phase. The project in Sector 66 will be a luxury high-rise building, with around 2.5 to three million sq. ft. of space expected to be launched in the first half of 2023. The company also plans to develop 8.5 million sq. ft. in Sector 79 in multiple phases.
Smart World Developers recently launched a premium high-street retail project, 'Smartworld Orchard Street', in Sector 61 of Gurugram, spread over 1,00,000 sq. ft. This project is spread across three floors, with units ranging from 500-12,000 sq. ft., and is expected to generate revenue worth Rs 250 crore.