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Indiabulls has entered into a joint venture to develop a 2.38-acre commercial project in Gurugram with an estimated value of around INR 600 crore. The development will include office, retail, F&B and service apartment components along the Dwarka Expressway. In parallel, TARC has launched an additional phase at its residential project in Sector 63A after acquiring adjoining land. The expansion will add six towers and 518 units, taking the total development potential to about 1.7 million sq ft with a GDV of nearly INR 3,600 crore, reflecting steady demand in the micro-market.
Indiabulls has entered into a joint venture with a land-owning partner to develop a commercial project on around 2.38 acres in Sector 103, Gurugram. The project, located along the Dwarka Expressway, is estimated to have a gross development value of approximately INR 600 crore. Advertisement
The planned development will include a mix of office spaces, retail outlets, food and beverage units, and service apartments. The location is expected to support demand due to improving connectivity and growing commercial activity along the Dwarka Expressway corridor, which has seen increased interest from both developers and occupiers in recent years.
This move is part of Indiabulls broader strategy to expand its footprint in the NCR region. The company has already been active in nearby sectors, particularly in residential developments, where it has seen steady traction. Entering the commercial segment in this micro-market allows it to diversify its portfolio while leveraging the area's infrastructure growth.
In a separate development, TARC has launched an additional phase at its residential project in Sector 63A, Gurugram. The expansion follows the acquisition of an adjoining land parcel, which has increased the total project size to over nine acres.
The new phase, named Ishvara, will include six towers with a total of 518 residential units. With this addition, the project's overall development potential is estimated at around 1.7 million sq ft, with a gross development value of about INR 3,600 crore. The expansion comes after receiving the required approvals, allowing the company to scale up the project in a phased manner.
The project is positioned in a location that has seen consistent residential demand, supported by improving road connectivity and proximity to established commercial hubs. The added inventory is expected to cater to mid-to-premium segment buyers, where demand has remained stable in Gurugram.
Together, these developments highlight continued activity in Gurugram's real estate market. While Indiabulls is adding commercial supply in an emerging corridor, TARC is expanding an existing residential project to align with demand and maximise land utilisation.
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