Birla Estates forms JV with Barmalt to develop Rs 5,000 cr luxury housing project in Gurugram
image for illustrative purpose
Birla Estates forms JV with Barmalt to develop Rs 5,000 cr luxury housing proj in Gurugram
New Delhi: Realty firm Birla Estates has partnered with Barmalt India to develop a luxury housing project in Gurugram with an estimated revenue of Rs 5,000 crore.
Birla Estate is the real estate venture of the Aditya Birla Group and a 100 per cent wholly-owned subsidiary of Century Textiles and Industries Ltd. In a regulatory filing, Century Textiles and Industries said it has entered into a joint venture with Barmalt India Pvt Ltd for a luxury residential group housing development in Sector 31, Gurugram. The land parcel is spread across 13.27 acres with a development potential of approximately 2.4 million square feet, offering a revenue potential of approximately Rs 5,000 crore, it added. K T Jithendran, MD & CEO of Birla Estates, said, "As we expand our footprint in the Delhi-NCR region, we are pleased to announce the addition of this new project in one of Gurugram's most promising micro market".
