Elan Group, on August 26, 2022, announced that it had concluded a major land deal in the country with Indiabulls Real Estate for Rs 580 crore, for 40 acres in Sector 106, Dwarka Expressway, Gurugram.
“We are proud to share that we completed the transaction well before time, with Indiabulls Real Estate. This project has a potential of 8 million sq ft of built-up area and has a top line of around Rs 10,000 crores. We are planning to launch this project by the fourth quarter of this year (2022) and we will be launching hi-end residential and commercial spaces,” said Akash Kapoor, director, Elan Group.
Out of the fully licensed 40-acre land, 30 acres are meant for residential development and 10 acres for commercial spaces, said the facilitators of the deal, Sachin Bhardwaj and Yukti Bhardwaj.
Recently, Elan Group has also acquired another prime commercial licensed land of 7.65 acres from Ambience Group in Sector 82, Gurugram, for over Rs 200 crores.