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The Gurugram-based real estate firm Ganga Realty has announced that it will spend Rs 4 billion in Swarnim, its first high-street retail project, in Gurugram’s Sector 5. As per the company’s recent announcement about its affordable housing project in Sohna Road, which would be its second significant undertaking.
The project is located 20 minutes away from the proposed metro station and would have easy access to the KMP Motorway and IGI Airport. The development, which spans 2.7 lakh square feet of land, would mostly consist of commercial and retail space.
The project, which will be developed close to roughly 3,000 residential units, will contain about 650 shops, many of which will be brand and amenity stores. The announcement claims that over 25,000 families will likely move to the same location in the near future, giving the project a huge opportunity for a sizable return on investment.
There will also include retail establishments, event facilities, a multiplex, and theme eateries. The retail atmosphere of the project is expected to change thanks to more than 200 brands.
Under the project’s 100% lease concept, all retail and office space will be leased to individual investors. Shops will have double heights and exclusive patio rights. The project will also provide a dedicated location for mechanical equipment.
By the end of the year 2025, the company hopes to have the project completed. The financing for the Swarnim project’s construction would be covered by internal accruals and client advances, according to Vikas Garg, JMD, Ganga Realty.
We anticipate a significant population change within a couple of years in the immediate area, with deliveries and possessions already underway. As a result, this relocation will increase demand for retail space, particularly in this area.
Source- Financial Express
