Encompassing about 6.796 acres of freehold property, the project's core focus is to provide contemporary group housing apartments alongside a range of amenities and a retail space.
Indian Hume Pipe, a company known for its involvement in various infrastructure sectors like water supply, irrigation, drainage, power generation, and rail transport, has teamed up with Birla Estates to embark on a residential project in Badarpur, Delhi. This collaboration formalized through a development agreement signed on a recent Tuesday, marks a significant step in the region's real estate landscape.
|Project Stage||New Launch|
|Location||Shettigere, Devanahalli, Bangalore|
|Floor Plans||1,2 & 3 BHK|
|Price||Rs. 50 Lakh* Onwards|
|Total Land Area||50 Acres|
|Total Units||2600 Units|
|Size Range||650 - 3000 Sq Ft|
|Towers & BLocks||2 Towers, 25 Floors|
|Launch Date||September 5th 2023|
|Completion Date||October 31st 2028|
|Possession Date||April 31st 2028|
The project spans approximately 6.796 acres of freehold land and primarily focuses on bringing modern residential group housing apartments to the area. These apartments will be complemented by a range of amenities and a dedicated retail space, enhancing the overall quality of life for the residents.
Under the terms of the agreement, Birla Estates will take charge of the project's development, construction, marketing, and sales, assuming the responsibility for its successful execution. This collaboration also entails a revenue-sharing arrangement between the two companies. Indian Hume Pipe will receive 36.50 percent of the project's generated revenue, while Birla Estates will receive 63.50 percent.
Moreover, Birla Estates will bear the costs associated with construction and marketing and expenses related to certain sanctions and approvals required for the project. On the other hand, Indian Hume Pipe will cover the expenses involved in converting the land from its industrial designation to residential use. This strategic partnership combines both companies' strengths and ensures a fair distribution of responsibilities and rewards.
In response to this collaboration, Indian Hume Pipe's share price saw a positive impact, rising by 1.53 percent to ₹235.90 at 03:05 p.m. on the Bombay Stock Exchange (BSE).
This exciting venture promises to bring forth a modern and well-planned residential community in Badarpur, Delhi, catering to the growing demand for quality housing in the region. With Birla Estates' expertise in real estate development and Indian Hume Pipe's experience in infrastructure, the project is poised for success. It is eagerly awaited by prospective homebuyers in the area. As the necessary approvals and permissions are secured, the project will shape the future of Delhi's residential landscape.
The collaboration between Indian Hume Pipe and Birla Estates signifies the fusion of expertise from two renowned entities. Indian Hume Pipe brings its extensive experience in critical infrastructure sectors, ensuring that the development meets the highest standards of quality and reliability. Their commitment to converting the land from industrial to residential use underscores their dedication to this transformative project.
On the other hand, Birla Estates is well-versed in the intricacies of real estate development, possessing a track record of delivering exceptional living spaces. Their project management, construction, and marketing proficiency equip them to bring this vision to life. The revenue-sharing arrangement reflects an equitable partnership, with both companies sharing rewards and responsibilities.
The positive response in the stock market following this collaboration underscores the investor and market confidence in the project's potential. As it progresses through the approval process and takes shape, it promises to become a benchmark for modern, sustainable, and well-designed residential communities in Delhi's dynamic real estate market. Homebuyers and investors alike can eagerly anticipate a vibrant and thriving living environment in Badarpur, Delhi, as a result of this exciting partnership.
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