Central Park to invest Rs 1000 cr on a new project in Gurugram

Realty firm Central Park on Saturday said it will invest around Rs 1,000 crore to develop a luxury housing project in Gurugram, Haryana. The company will develop over 500 housing units in the 13-acre housing project ‘Bellavista’, which is part of the nearly 50-acre township ‘Central Park Resorts’ in Gurugram.

Central Park has already launched the first tower comprising 360 studios and one-bedroom apartments starting at Rs 1.76 crore. The second tower, having around 150 units, will be launched in the next 3-4 months.

The cost of project including the land value is Rs 1,000 crore, Central Park said. The total built-up area of these two towers is around 10 lakh sq ft. Amarjit Bakshi, CMD, Central Park, said there are more than 500 expats from 30 nationalities living in this township.

The company would target foreigners, particularly Japanese, in this new project, he added. Kulwant Khurana, President – Sales, Marketing & CRM, Central Park, said, “ It will be a very innovative product. CXOs of large corporations will find it suitable to their needs and tastes and will make it a home.”

In the township, the company has so far developed more than 1,500 units in three phases. This is the fourth phase. Gurugram-based Central Park has delivered 5.5 million sq. ft of residential and hospitality projects. It has over 10.9 million square feet of existing development and another 12 million square feet of planned projects in Gurgaon, Delhi and Goa.