Sobha to develop group housing project in Gurgaon

The 39-acre project, which is expected to be launched by the end of next month, would be developed in phases over the next 6-7 years, Sobha Vice Chairman & MD J.C. Sharma said.

Sobha Ltd. has tied up with Chintels India to develop a group housing project comprising 1,700 flats in Gurgaon at an estimated cost of INR 1,000 crore.

The 39-acre project, which is expected to be launched by the end of next month, would be developed in phases over the next 6-7 years, Sobha Vice Chairman & MD J.C. Sharma said.

"We are coming out with a new group housing project at Gurgaon in partnership with Chintels," Sharma said.

Sobha is already developing a luxury villa project named 'International City' on a 150-acre land parcel near Dwarka Expressway in a tie-up with Chintels group and QVC Realty.

Both the partners would share revenues from the new project, which is located adjacent to the the villa project.

"Total saleable area in this project would be over 3 million square feet," Sharma said.