NCR Real Estate: Bharti Realty In Talks To Form JVs Worth Over Rs 1,000 Crore

After delivering 15 projects across Delhi NCR and other cities, Bharti Realty is looking to expand its presence in Delhi and Gurugram markets. The real estate firm of renowned Bharti Enterprises is in talks with landowners as well as other developers for joint ventures to build new projects worth over Rs 1,000 crore each.

The declaration came from Bharti Realty CEO who also revealed that they are being approached by landowners and other real estate developers for partnerships. The company also has nearly 5 million sq ft of fully leased Grade-A commercial space in NCR and some other cities.

“We are looking to add new projects in Delhi and Gurugram. We are being actively considering it,” Bharti Realty MD and CEO S.K. Sayal told ET Realty.

The top official also added that the company would continue to focus on the national capital region market in the coming times. He further added that the deal could be finalized in the next few months.

Bharti Realty forayed into the housing segment in 2015 when it formed a JV with Eros group to develop a 52-acre residential project at Surajkund in NCR. However, the construction work has not yet started because of a pending legal case in the National Green Tribunal.

Although the company reportedly has all regulatory approvals from the central as well as the state government to start this project, the approvals from the NGT and the National Capital Region Planning Board are still pending. The project is expected to comprise of 2,300 units and will require around Rs 2,000 crore of investment.

The said project is planned in a way to develop a vertical smart city. The apartment is expected to in price range of Rs 1.25 crore to Rs 4 crore.

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