Industry & Economy
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Real Estate & Construction
Gurgaon, Noida to have more condominiums
Our Bureau
NEW DELHI, Oct. 1
MAHINDRA Group's real estate division, Gesco Corporation Ltd, along with Bakshi Enterprises, have launched a Rs 200-crore residential project called Central Park in Gurgaon.
The project, which will stretch over nearly 14 acres of land, will be a multi-storeyed complex, which would be completed in four phases. It will consist of 560 apartments as well as villa apartments and penthouses.
Col. R.S. Sodhi, Senior Vice-President, Gesco Corporation Ltd, told newspersons that Central Park would reflect the company's commitment to high quality construction and providing value to clients.
It would be equipped with a clubhouse, tennis court, swimming pool and power back-up. The apartments are priced at Rs 32 lakh upwards.
Apart from the Mahindra Group, the Lucknow-based Eldeco Group is also going to set up a residential condominium in Gurgaon.
Mr S.K. Garg, Chairman, Eldeco Infrastructure and Properties, said the complex would provide all the facilities of a condominium, but would be affordably priced, starting at Rs 12 lakh.
Eldeco has also announced the launch of Eldeco Residency Greens Phase II in Greater Noida. The flats in this complex are priced between Rs 12 lakh and Rs 20 lakh and will be completed by June 2003.
Mr Garg also mentioned that his company was planning to penetrate into the smaller towns of North India such as Sitapur and Ferozabad, where they are looking at a joint venture with the State Gove- rnment.
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