New Delhi, Kanodia Group on Tuesday said it has bought 1.74 acres of land in Gurugram for Rs 153 crore to develop a luxury housing project.
Kanodia Group, which is into the cement business, has recently announced plans to enter the real estate sector and invest Rs 5,000 crore in the next 5-7 years.
"1.74 acres of land located in Sector 46, Gurugram has been acquired for approximately Rs 153 crore," the statement said.
“This acquisition marks our entry into the thriving luxury residential segment in the NCR market,” said Gautam Kanodia, Co-Founder, Kanodia Group.
He said, this acquisition is the first step in the group's journey to establish itself as one of the leading professionally run real estate organizations in the country.
"We plan to generate revenue of over Rs 1,000 crore from this project. The project is scheduled to be commissioned by the end of this year and is expected to be completed within 48 to 60 months," Kanodia said.
Kanodia Group, which is into the cement business, has recently announced plans to enter the real estate sector and invest Rs 5,000 crore in the next 5-7 years.
"1.74 acres of land located in Sector 46, Gurugram has been acquired for approximately Rs 153 crore," the statement said.
“This acquisition marks our entry into the thriving luxury residential segment in the NCR market,” said Gautam Kanodia, Co-Founder, Kanodia Group.
He said, this acquisition is the first step in the group's journey to establish itself as one of the leading professionally run real estate organizations in the country.
"We plan to generate revenue of over Rs 1,000 crore from this project. The project is scheduled to be commissioned by the end of this year and is expected to be completed within 48 to 60 months," Kanodia said.
