Curation Team
NEW DELHI: Gurugram-based Landmark Group plans to invest about ₹400 crore to develop Landmark Skyvue, situated in Sector 103, Dwarka Expressway.
The newly launched development makes up phase II of the entire project, spread across 11 acres of the land parcel. The company delivered phase I, spread across three acres, in 2013 and expects to launch phase III, spread across four acres, in FY26.
The construction cost of phase-II of the project is ₹400 crore, of which company is in talks with State Bank of India (SBI) to finance about ₹200 crore. It will fund the construction cost with the help of internal accruals, bank loans and advances from customers against sales.
Sandeep Chhillar, founder and chairman of the company said, “The land was bought in 2009. Initially we are looking for ₹200 crore finance and if the need arise, will look for further bank finance.”
The project will have a total of 240 units, offering 3BHK + Utility and 4.5BHK + Utility residences.
With the revenue potential of ₹1,200 crore, the project is likely to be delivered over the next four years.
The company has launched the project at Rs 17,500 per sq ft. The price for an apartment ranged from ₹4.99-₹6.78 crore.
The company has three other projects in its pipeline for FY26, including a commercial project – Landmark One, measuring 2.2 million sq ft on Golf Course extension road, a high street retail project – Landmark Valeria, and a large mixed-use project, both situated on Dwarka Expressway.
It has a land parcel of about 11 acres in Rohtak, about 25-30 acres in Gurugram and about 35 acres in Kurukshetra, on which it plans to develop projects in coming years.
Separately, it is also present in co-working space through Plus Offices which has about 3,500 seats in Gurugram and has a master licence for Venture X in Indian region.
