DLF to Develop New City Centre in Gurgaon

August 24, 2007	(2 votes, average: 2.5 out of 5)  Loading ...
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Indian property giant DLF Ltd will soon come up with a modern city centre near the 18-hole Golf Course Road in Gurgaon. The company will take up the construction in collaboration with global construction major Hines.

The complex will be designed by the famous Robert A M Stern. To feature 30 storeys, the centre will be developed over a large area of 20 acres with the total 2.5 million square feet of constructed area.

The entire complex will be dedicated to the commercial space. Also, it will have end retail shops, restaurants, and a 5-star hotel, informs an industry source. Skyscrapers in the complex will include large green areas. Only 10% of the space will be covered by the construction and the rest of the area will left green.

There is an acute shortage of commercial space in Gurgaon, one of the factors which have pushed the lease rental rates to Rs 120 per square feet per month. Gurgaon is likely to see an oversupply of office space soon.

The proposed city centre is believed to serve as a major land mark in the area and is scheduled to be operational in 2010. By the concerned timeline, the centre will be well connected to Delhi through metro and a widened national highway, which would be a matter of major convenience for all.  Since the land is already acquired by DLF, development work is likely to start soon.

News Published Under:   Real Estate Developers |

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