Kanodia Group declared that it has acquired a 1.74-acre land in Sector 46, Gurugram, for Rs. 153 crore. They will use this land parcel to construct a luxury real estate project.The company has recently informed about its plan to enter into the real estate sector and invest Rs.5,000 crore over the next 5-7 years. The acquired land's prime location is attributed to its close proximity to important landmarks and amenities. Located in Sector 46, Gurugram,this property is situated within a well-established residential area renowned for its high-end housing choices.
The Co-founder of Kanodia Group,Gautam Kanodia opined, “This acquisition marks our entry into the thriving luxury residential space in the NCR market. We aim to extend our 25 years of legacy in setting new standards of quality in terms of product and service delivery for our valued customers. We plan to generate revenue in excess of Rs 1000 crore from this project.
The project is scheduled to be launched by the end of this year and is expected to be completed within 48 to 60 months.”
He also added,"We plan to generate revenue in excess of Rs.1000 crore from this project. The project is scheduled to be launched by the end of this year and is expected to be completed within 48 to 60 months."
The land parcel is located in close proximity to the Medanta Hospital and Huda City Center Metro station.
Additionally, IKEA is currently working on a high-end mixed-use development project near this property.
He is optimistic about the luxury real estate market growth in NCR and they are claiming to offer the best experience to contemporary Indians.
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