By Accommodation Times Bureau
The Brahma group is going to develop an office-cum-retail project at Gurugram of worth Rs 1,700 crore. By this, it is entering into commercial real estate business.
The company is also developing a housing project Samsara on 141-acre land in Gurugram with tie up Adani Realty.
Brahma group in partnership with DLF is also developing a project at Panchkula.
Puneet Khullar, Vice President, Brahma Centre Development said, to an agency that, “We are entering the commercial real estate project. We are developing a mixed-use project on an over 12-acre land parcel at Gurugram comprising 1.3 million sq ft of leasable area.”
The project will have 4 lakh sq ft office spaces and rest would be retail, it is located on Delhi- Gurugram expressway.
Vice president said the completion of projects is expected in 2019.
With the help of Real Estate Investment Trust (REITs) the developer can monetise their rent-yielding properties and for boosting the real estate, the government introduced the new instrument for it.