Soon, the first urban expressway in India will connect Delhi to Gurugram, where luxury homes will be built. An affiliate of a Singaporean builder has acquired land to construct them. Already having launched projects in Noida, this developer purchased 7.81 acres of land in Gurugram. However, common people will not be able to afford these luxurious houses because they will cost a fortune considering how expensive the land is.

Experson Developers Private Limited — an Indian subsidiary of Singapore-based Experson Holdings Private Limited — has bought 7.81 acres of land for residential development for Rs 400 crore near Dwarka Expressway at Gurugram. The project plan includes developing residential properties across 3 million square feet.

Singapore Builder Acquires Land Near Dwarka Expressway

In Gurugram Sector 88A alone, the company is investing Rs 2,000 crore on the newly acquired plot where it plans to build 4-BHK flats with carpet area of around 2,600 sq ft each. So the total investment by the company would be around Rs 2,400 crore in this project so far they have acquired five plots for residential property development and invested around Rs 2,100 crore.

Profit Expected Of Rs 1,300 Crore

The project that is expected to start in this financial year will be completed within timeline for which all efforts are being made says BK Malagi COO Experson Developers Infratech Pvt Ltd After selling the flats it is expected that revenue generation should be around Rs 3,700 crore thus making profit approximately Rs1 ,300 crore The total cost involved for building this entire township would come out somewhere close to Rs2 ,400 crores

Where Else Have They Purchased Land?

This Singapore-based firm has acquired lands at different locations of NCR They have bought a four-acre plot for Rs400 crores on Golf Course Road Gurugram five-acre plot for Rs 250 crore in Noida Sector 45 a 5.5-acre plot for Rs550 crore in Gurugram Sector 48 and a six-acre plot for Rs450 crore in Gurugram Sector 53 apart from the commercial plot on Golf Course Extension Road Gurugram for Rs450 crore On the Noida plot, the company will develop luxury homes — total 320 — that will be available in 3 BHK and4-BHK configurations The cost of these flats is said to be around Rs4 .97 crore (all inclusive).