Bharti Realty, the real estate arm of Bharti Enterprises, has tied up with Asthetic Township Developers to build a new commercial project in Gurugram, Haryana, at an estimated construction cost of Rs 350 crore.
Asthetic Township Developers owns nearly three acre of licensed land parcel in Sector 27 in Gurugram, while Bharti Realty will develop the commercial project under the real estate asset management model. Bharti Land has partnered with Asthetic Township Developers for a new mixed-use commercial project, comprising six lakh sq-ft area of office and retail spaces.
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 the project is expected to start within the next two months. Bharti Realty has a portfolio of over five million sq ft of Grade-A commercial real estate space.
Some of the developments include Bharti Crescent, New Delhi; Airtel Centre, Gurugram; and Worldmark, New Delhi. It already has two to three properties in Delhi's Aerocity, named 'Worldmark Aerocity', comprising fully leased 1.5 million sq ft area.
The company is currently developing another nine million sq-ft residential, retail and mixed-use real estate space in Delhi NCR.