Elan group to invest 4,000 crore in luxury project
Real estate firm Elan Group has planned to invest Rs 4,000 crore in developing 8 million sq ft of luxury residential space on Dwarka Expressway. The project would be set on the 40-acre land parcel it had acquired from Indiabulls Real Estate for Rs 580 crore in January this year.
Of the fully licensed 40-acre land, 30 acres are meant for residential development and 10 acres for commercial spaces. Global alternative investment Firm PAG has recently invested about Rs 425 crore in the group and the builder will use the proceeds to fund the construction.
Also Read: Elan Group And Indiabulls Sign Deal For 40 Acres Land