The venture will include retail outlets, banquets, multiplex, and themed eating places.
The retail venture can have round 650 outlets unfold on an space of two.7 lakh sqft
Ganga Realty, a Gurugram-based actual property agency, has mentioned it’ll make investments Rs 400 crore in its first high-street ‘neighbourhood’ retail venture, Swarnim, at Sector 5, in Sohna, Gurugram. This venture would be the firm’s second multi-crore enterprise after the announcement of its inexpensive housing venture in Sohna Road a couple of months in the past.
“The venture is strategically situated at a 20-min distance from the proposed metro station and also will share simple connectivity with IGI Airport and KMP Expressway. It can be primarily a industrial Retail growth with a complete plot space of two.7 lakh sqft,” according to a statement.
It added that the project will have around 650 shops with multiple brand and amenity stores. The project will be developed in the vicinity of around 3,000 residential units. Over 25,000 families will most likely settle down in the same region in the near future, which promises great prospects of high ROIs for the project.
It will also consist of retail shops, banquets, multiplex, and themed restaurants. It is expected that over 200 brands will redefine the project’s retail experience. The project is based on a 100 per cent lease model where all retail and business suites will be leased to individual investors. Shops will be of double height with exclusive terrace rights. The project will also provide dedicated space for mechanical car parkings. The company expects to deliver the project by the end of 2025.
Vikas Garg, JMD of Ganga Realty, said, “The funds for construction of the Swarnim project would be met by internal accruals and customer advances which are being planned. Location being a key to successful investment, Swarnim is located at a very close vicinity and in high demand with its location advantage and property appreciation. With deliveries and possessions already in process, we expect a huge population to shift within couple of years in close vicinity. This movement will thus push demand for retail and majorly for retail properties in this region.”
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