Rajasthan-based developer Bhumika Group is set to enter the NCR real estate market and launch its first high-street commercial project on Mathura Road in Faridabad. The company aims to develop the project in next four years with an estimated investment of Rs 600 crore.
The project will be a joint venture with Faridabad-based Amolik Group and will be spread across five acres in sector 21 of Faridabad in Haryana. The company aims to develop a 5.5 lakh square feet saleable area in the high-street mall an expects a revenue of Rs 1000 crore from the project.
“We are proud to introduce this high street project. We have always focused on delivering projects that blend the joy of shopping with community-centric spaces. The development will be carried out in a single phase, with an estimated construction timeline of 4 years," said Uddhav Poddar, managing director of Bhumika Group.
Poddar said that funding for the project will be done through pre-sales, internal cash flows and institutional investments, adding that the real estate company is planning to also launch a residential project in Faridabad in the future. Bhumika Group recently opened the Urban Square Mall in Udaipur.
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