Bharti Realty partners with Asthetic Developers for Gurugram project

The new commercial project will comprise 6 lakh sq feet of office and retail spaces and construction is expected to commence within the next couple of months.The project is situated between IFFCO Chowk Metro Station and Huda City Centre Metro Station.

Bharti Realty, the real estate wing of Bharti Enterprises, has partnered with Asthetic Township Developers to build a commercial project in Gurugram, Haryana.

Around 3 acres of land in Sector 27 of Gurugram is owned by Asthetic Township Developers Pvt Ltd. which will be developed as a commercial project. (HT file photo)

The new commercial project will comprise 6 lakh sq feet of office and retail spaces and construction is expected to commence within the next couple of months.

The cost of the project has not been divulged by Bharti Realty, but news agency PTI said it could cost around ₹350 crore, excluding land cost.

Around 3 acres of land in Sector 27 of Gurugram is owned by Asthetic Township Developers Pvt Ltd. This will be developed as a commercial project under the real estate asset management model by Bharti Realty.

The project is situated between IFFCO Chowk Metro Station and Huda City Centre Metro Station with residential hub and business districts of Gurugram in the vicinity.

Bharti Realty MD and CEO S K Sayal said the project will set a new benchmark in the commercial development segment in Gurugram.

Bharti Realty was founded in 2003. The company has developed almost 5 million sq feet of Grade-A commercial spaces across Delhi, Gurugram, Bengaluru, Chennai, Kolkata and Ludhiana.

It is currently developing another 9 million sq feet of commercial real estate space in Delhi-NCR.