Delhi-NCR-based Bhumika Realty said on October 14 that it expects its cumulative land investment in Faridabad to exceed ₹1,000 crore by March 2027. The company has invested over ₹550 crore in the city in the past 12 months and plans to invest another ₹450 crore by March 2027 to acquire land for residential and commercial projects.The company has already invested ₹550 crore in the last one year to purchase land in the city, Bhumika Group Chairman and Managing Director Uddhav Poddar said."We have bought around 50 acres of land so far in Faridabad and we are looking for more," he told reporters. The cumulative investment on land would touch ₹1,000 crore by the end of this fiscal, Poddar added.Bhumika Realty is developing a 5-acre mixed use project in Faridabad with an investment of ₹700 crore. As part of this strategy, it has inaugurated a 15,000 sq ft experience Centre at ICON, this development on Delhi–Mathura Road, that features a sample apartment, and that construction at the project is underway.
The project will offer 88 premium 3BHK apartments measuring 2,650 sq ft and 2,950 sq ft, priced between ₹3 crore and ₹4 crore, in a 27-storey building.
Retail facilities will occupy the podium and the first four floors, while the fifth and sixth floors will house the clubhouse. The company expects to generate ₹1,500 crore in revenue from apartment sales.
The project is targeting buyers from Faridabad and South Delhi, including auto-component industry professionals, local industrialists and people working in Delhi and Gurugram. The residential complex will also offer direct access to the mall. Delhi, Gurugram and Noida are each around a 30-minute drive away, according to the company.
The project is being developed on a mixed-use plot acquired under the Transit-Oriented Development (TOD) policy, under which residential development was previously capped at 30% of the permissible development.ICON has also secured approximately one lakh sq. ft. of retail leasing, with brands including Lifestyle, PVR INOX, Samsung and an Apple reseller, the company said.As much as 24,000 sq ft of retail space has been leased to fashion brand Lifestyle in this project, the company said. The project will also have a 25,000 sq ft multi-screen multiplex by PVR INOX.According to the company, it is expanding its presence in Faridabad across residential, plotted and mixed-use developments.
The company also plans to enter the branded residences segment with its next project, spread across 5–10 acres, which is in the advanced stages of discussions, Poddar told Hindustan Times Real Estate.
Plotted development project in Sector 114, Faridabad
{{/usCountry}}The company also plans to enter the branded residences segment with its next project, spread across 5–10 acres, which is in the advanced stages of discussions, Poddar told Hindustan Times Real Estate.
Plotted development project in Sector 114, Faridabad
{{/usCountry}}Bhumika Realty has acquired land across multiple sectors in Faridabad, with its plotted development in Sector 114 having received its development licence and awaiting RERA registration, the company said.The company plans to build a 20-acre residential project in Sector 114 and will mainly offer residential plots in this upcoming project.
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Faridabad's improving connectivity with the wider NCR and ongoing infrastructure development continue to support the company's long-term investment outlook, he added.Bhumika Group has interests in real estate, retail, hospitality and logistics. It has already completed a shopping mall and a hospitality project in Udaipur, Rajasthan.