Bharti Realty, the real estate arm of Bharti Enterprises, has tied up with Asthetic Township Developers to build a new commercial project in Gurugram at an estimated construction cost of Rs 350 crore.
Asthetic Township Developers Pvt Ltd owns nearly 3 acres of licensed land parcel in Sector 27, Gurugram (Haryana), while Bharti Realty will develop the commercial project under the real estate asset management model.
Bharti Land Ltd, the development and management arm of Bharti Realty, has partnered with Asthetic Township Developers for a new mixed-use commercial project, comprising 6 lakh sq ft area of office and retail spaces.
"We at Bharti Realty are excited about our association with Asthetic Township Developers Pvt Ltd on this new project in Sector 27 which will set a new benchmark in the commercial development segment in Gurugram," Bharti Realty MD & CEO S K Sayal said.
The project is located centrally between IFFCO Chowk and Huda metro stations, amid the residential hub and current business districts of Gurugram.
The construction of this project is expected to start within the next two months.
Bharti Realty did not disclose the project cost but sources said the investment on developing this project could be around Rs 350 crore, excluding land cost.
Vijay Kumar Yadav, managing director, Asthetic Township Developers, said, "Bharti is one of the most trustworthy brands in the country and, together, we are sure to bring in immense value and a world-class product for today's global consumer."