Conscient Infrastructure has acquired 6.6-acre land in Gurugram for approximately Rs 85 crore to develop a housing project, leveraging the bullish market. Real estate consultancy Cushman & Wakefield facilitated the deal. The land parcel has a development potential of over one million square feet. With this strategic move, Conscient Infrastructure capitalizes on the demand surge for residential properties, solidifying its position as a leading developer in Gurugram. The company's partnership with Hines to establish the 'Elevate Homes' platform further demonstrates its commitment to shaping the future of real estate in Delhi-NCR.
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Gurugram at an estimated cost of Rs 85 crore, with the intention of embarking on an ambitious housing venture. In an official statement, esteemed real estate consultancy Cushman & Wakefield revealed that it played a pivotal role in facilitating this monumental land acquisition, which unfolded in Sector 80 of Gurugram.
This expansive land parcel holds tremendous potential for development, boasting an impressive capacity of over one million square feet. Hardeep Lamba, the Managing Director of Land and Capital Markets for North and East India, eagerly anticipates the prosperous opportunities that lie ahead for the client, skilfully harnessing the current bullish run experienced in the Gurugram market.
Although the exact financial details of the transaction were not explicitly disclosed in the statement, industry sources well-versed in the matter surmised that the deal transpired for a substantial sum of around Rs 85 crore. The rising trend of real estate developers exhibiting a fervent interest in acquiring land parcels outright or entering into strategic partnerships with landowners for joint development projects is a testament to their keen desire to capitalize on the burgeoning demand for residential properties. This surge in housing sales witnessed over the past couple of years can be largely attributed to the pent-up demand that emerged in the aftermath of the challenging Covid-impacted period.
Conscient Infrastructure has firmly established itself as a trailblazing force within the Gurugram real estate landscape, recognized for its unwavering commitment to delivering exceptional projects. A notable collaboration took place in 2022 when the illustrious global realty firm Hines joined forces with Conscient Infrastructure to establish a groundbreaking platform known as 'Elevate Homes.' This innovative development management platform serves as a springboard for an array of residential projects across the highly sought-after Delhi-NCR property market.
The remarkable synergy between Hines India and the esteemed Gurugram-based Conscient Infrastructure gave rise to the creation of 'Elevate Homes,' which embodies their shared vision of redefining the concept of luxurious living. This partnership marks a continuation of their previous successful venture in 2019 with the esteemed Elevate residential project in Gurugram, demonstrating their steadfast commitment to shaping the future of the real estate industry. In 2021, Hines and Conscient Infrastructure Pvt Ltd joined forces once again, investing around Rs 700 crore in the second phase of a residential project in Gurgaon.
Building upon the foundations of BCC Infrastructure Pvt. Ltd., Conscient Infrastructure Pvt. Ltd. has emerged as a dynamic real estate design and development company. With a wealth of experience and a visionary approach, it has strived to create innovative solutions to meet evolving infrastructure needs. Their meticulous project implementation and commitment to excellence have garnered the trust of over 12,000 satisfied clients. From land identification and acquisition to project planning, execution, and marketing, they are involved in every stage of real estate development. Additionally, they take pride in the maintenance and management of their completed ventures.
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