Birla Estates joins forces with Barmalt India for luxury housing development in Gurugram
Birla Estates Pvt Ltd, the real estate arm of the esteemed Aditya Birla Group and a fully-owned subsidiary of Century Textiles and Industries Limited, has announced a strategic joint venture with Barmalt India Pvt Ltd. This collaboration aims to develop a luxury residential group housing project in Sector 31, Gurugram. The venture is positioned on a sprawling 13.27-acre land parcel with an estimated development potential of approximately 2.4 million square feet, promising a revenue potential of around INR 5000 crore.
Prime Location and Project Potential
Situated in the upscale micro-market of Sector 31 in Gurugram, the project offers superb connectivity to major commercial hubs like Cyber City, Golf Course Road, and Sohna Road. Its proximity to vital infrastructure such as City Centre 29, Signature Towers, 32nd Avenue, and Crowne Plaza, along with easy access to NH-48 and the metro line, makes it a coveted location. The area is also near the Indira Gandhi International Airport and the prime Central Business District (CBD) areas of Gurugram, surrounded by premium residential developments, top schools, hospitals, and five-star hotels, enhancing the living experience in a vibrant community setting.
Executive Insights
K. T. Jithendran, Managing Director and CEO of Birla Estates, commented on the venture, stating, “As we expand our footprint in the Delhi-NCR region, we’re pleased to announce the addition of this new project in one of Gurugram’s most promising micro-markets. This project reflects our commitment to offering modern homebuyers world-class living spaces in strategically chosen locations, complemented by exceptional amenities. We are confident this project will set a new benchmark in the Gurugram real estate market.”
Akshi Jindal, CEO of Barmalt India Pvt Ltd, also expressed enthusiasm about the partnership, saying, “We are thrilled to partner with Birla Estates for this project and look forward to this association. This collaboration signifies our shared commitment to crafting exceptional living spaces that merge luxury with purpose. Having deep roots in Gurugram, Barmalt shares a strong relationship and connection with the city. Our collective market expertise and vision will undoubtedly redefine the residential landscape in Gurugram, offering homebuyers an unparalleled lifestyle experience.”
This joint venture between Birla Estates Pvt Ltd and Barmalt India Pvt Ltd represents a significant step in enhancing the luxury real estate market in Gurugram. The strategic location coupled with the expertise of both companies promises to deliver a project that not only meets but exceeds the high standards expected of luxury residential developments. The project is likely to attract significant interest from both investors and potential homeowners, setting a new standard for luxury living in Gurugram.