{"id":3078,"date":"2022-09-22T18:49:11","date_gmt":"2022-09-22T13:19:11","guid":{"rendered":"https:\/\/www.propertyxpo.com\/blog\/?p=3078"},"modified":"2022-09-22T18:51:05","modified_gmt":"2022-09-22T13:21:05","slug":"elan-group-and-indiabulls-real-estate-have-agreed-on-a-40-acres-land-deal-in-gurgaon","status":"publish","type":"post","link":"https:\/\/www.propertyxpo.com\/blog\/elan-group-and-indiabulls-real-estate-have-agreed-on-a-40-acres-land-deal-in-gurgaon\/","title":{"rendered":"Elan Group and Indiabulls Real Estate have agreed on a 40 acres land deal in Gurgaon"},"content":{"rendered":"<p><b><i>In order to construct residential and commercial complexes, the firm stated in January that it had purchased 40 acres of <a href=\"https:\/\/www.propertyxpo.com\/blog\/elan-group-and-indiabulls-real-estate-have-agreed-on-a-40-acres-land-deal-in-gurgaon\/\">land deal in Gurgaon<\/a> from Indiabulls Real Estate Ltd (IBREL) for Rs. 580 crores.<\/i><\/b><\/p>\n<p><span style=\"font-weight: 400\"><a href=\"https:\/\/www.elanindia.net.in\/\"><em><strong>Elan Group<\/strong><\/em><\/a>, a real estate company, announced that it has reached an agreement to purchase 40 acres of property in Gurgaon from Indiabulls Real Estate and will develop projects worth Rs. 10,000 crores there.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The 40-acre plot of land in Gurugram\u2019s Sector 106 has all the necessary permits. Out of that, 10 acres are designated for commercial developments and 30 acres for residential construction.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The land purchase between the Elan group and the IBREL in Sector 106 of the Dwarka Expressway Gurgaon has been completed, according to a statement.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cThis project has a profit margin of around Rs. 10,000 crores and a developed area of 8 million square feet. By the fourth quarter of this year, we want to unveil this project, which will include high-end residential and commercial areas,\u201d Director of Elan Group, Akash Kapoor stated.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Lately, Ambience Group sold Elan Group a 7.6 acre premium commercially zoned site in Sector 82 Gurugram. More than 200 crores of rupees were exchanged in this land deal in Gurgaon.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Elan Group intends to construct a one million square foot commercial complex that will include offices, service apartments, hotels, and retail spaces.<\/span><\/p>\n<p><span style=\"font-weight: 400\">IBREL stated in a regulatory filing that the agreement with Elan had been finalized.<\/span><\/p>\n<p><span style=\"font-weight: 400\">To Elan Limited for an aggregate selling value of Rs. 580 crores, the firm sold its whole ownership in its subsidiaries Mariana Developers, Albina Properties, Airmid Developers, and Flora Property Development (which owns the land lot).<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In order to construct residential and commercial complexes, the firm stated in January that it had purchased 40 acres of land deal in Gurgaon from Indiabulls Real Estate Ltd (IBREL) for Rs. 580 crores. Elan Group, a real estate company, announced that it has reached an agreement to purchase 40 acres of property in Gurgaon from Indiabulls Real Estate and will develop projects worth Rs. 10,000 crores there. The 40-acre plot of land in Gurugram\u2019s Sector 106 has all the <a href=\"https:\/\/www.propertyxpo.com\/blog\/elan-group-and-indiabulls-real-estate-have-agreed-on-a-40-acres-land-deal-in-gurgaon\/\" class=\"read-more button-fancy -red\"><span class=\"btn-arrow\"><\/span><span class=\"twp-read-more text\">Continue Reading<\/span><\/a><\/p>\n","protected":false},"author":5,"featured_media":3079,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/posts\/3078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/comments?post=3078"}],"version-history":[{"count":2,"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/posts\/3078\/revisions"}],"predecessor-version":[{"id":3081,"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/posts\/3078\/revisions\/3081"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/media\/3079"}],"wp:attachment":[{"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/media?parent=3078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/categories?post=3078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/tags?post=3078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}