Landmark Group Invests Rs 400 Cr in Gurugram Housing

New Delhi, Aug 20 (PTI) Realty firm Landmark Group will invest Rs 400 crore in the construction of its new housing project in Gurugram.

The company is developing 240 apartments in its new residential project, spread over 4 acre of land parcel, at Sector 103 (Dwarka Expressway) in Gurugram.

"We will invest Rs 400 crore on construction of our new project 'Landmark SKYVUE'," Landmark Group Chairman Sandeep Chillar told reporters here.

He said the company has owned this land parcel since 2009, and all approval charges have been paid to the government.

Chillar said the company would fund the construction cost with the help of internal accruals, bank loans and advances from customers against sales.

Landmark Group will sell apartments in a price range of Rs 5-7 crore per unit. The launch price is Rs 17,500 per sq ft.

The chairman further said the demand continues to be strong in the Gurugram market, helped by infrastructure projects, including the opening up of Dwarka Expressway.

The company has so far delivered 15 housing and five commercial projects, mostly in Delhi-NCR.