Sushma Group announces projects worth ₹450-cr

A Punjab-based real estate developer, Sushma Group, has planned to invest ₹450 crore in four projects at Zirakpur in Punjab and Kasauli in Himachal Pradesh. Two projects are commercial – Metropol (Zirakpur) and Empiria (Zirakpur) – and two are residential – Belleza (Zirakpur) and Elementa (Kasauli). The investment will be through internal accrual, sale, and IIFL except for the leisure residential project Elementa in Kasauli where investment would be through self and sale only. The group has so far delivered 14 projects with a total area of 3.6 million sq ft. Spread over 11.43 acres and a total built-up area of 1,818,322 sqft, the investment in the project is around Rs 180 crore. The 7-acre commercial project Empiria will have a total built-up area of 1,352,863 sqft and the investment would be about ₹130 crore. Spreading over 4.10 acre, Metropol will be developed with an investment of ₹90 crore. With a total built-up area of 945,307 sq ft, Metropol will have two grand sky-walks and a 650 ft wide frontage. The fourth project Elementa, which is a leisure-residential development at Kasauli in Himachal Pradesh is being taken up on an area of 4.42 acres and involves ₹50 crore investments.