Delhi-based realty firm Eldeco Group is set to invest Rs 300 crore in constructing an ultra-luxury housing project with 80 villas in Himachal Pradesh. Acquiring a 30-acre land parcel in Sirmaur district, the project is part of a new subsidiary, 'Terra Garden,' dedicated to developing high-end projects across tourist destinations. CEO Amar Kapoor stated that 35 villas have been launched for sale, starting at Rs 5.5 crore. The seven-year project aligns with rising demand for luxury villas, and Eldeco is exploring opportunities in states like Uttarakhand and Goa, open to joint ventures for expansion.
Delhi-based realty giant Eldeco Group is set to invest Rs 300 crore in a lavish housing venture, featuring 80 villas, nestled in the scenic hills of Himachal Pradesh. This project is initiated under a newly-formed subsidiary 'Terra Garden' and has launched 35 villas for sale in the first phase, starting at a price of Rs 5.5 crore. Amar Kapoor, CEO of Terra Grande under Eldeco Group, revealed the acquisition of a 30-acre hillside plot in Sirmaur district, emphasizing the development of ultra-luxury holiday homes. Kapoor affirmed a substantial investment of Rs 300 crore for the project, slated for completion within seven years, as per RERA filings. Eldeco Group is also exploring collaborative ventures with landowners to bolster its presence in this segment, citing a noticeable surge in demand for independent luxury villas in recent years. Expressing a proactive approach, Kapoor outlined the company's vision to identify suitable land parcels for vacation home projects across states such as Himachal Pradesh, Uttarakhand, and Goa. Established in 1985, Eldeco Group boasts a rich history in real estate development, delivering over 200 projects encompassing integrated townships, high-rise condominiums, industrial estates, malls, and office buildings. With approximately 30 projects actively underway, the aggregate delivered area surpasses 30 million square feet, garnering satisfaction from over 30,000 customers. The group's geographical footprint extends to prominent locations like Lucknow, Kanpur, Agra, Greater Noida, Gurugram, and beyond. Beyond residential offerings, Eldeco Group manages a 1,200-acre 'Eldeco Sidcul Industrial Park' in Sitarganj, Uttarakhand. Comprising two major entities, Eldeco Housing and Industries Ltd (EHIL) focuses on projects in Uttar Pradesh, listed on the Bombay Stock Exchange, while Eldeco Infrastructure and Properties Ltd (EIPL), formed in 2000, undertakes ventures in Delhi-NCR. Embracing the evolving real estate landscape, Eldeco Group's foray into Himachal Pradesh aligns with the escalating demand for exclusive hillside residences. The launch of 'Terra Garden' signifies a strategic move to capture the growing luxury housing market in tourist destinations. As the company navigates this expansion, its commitment to quality and customer satisfaction remains at the forefront of its endeavors, showcasing a blend of experience, innovation, and a vision for the future.
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