Manglam Group's Rs 150 Cr Commercial Project in Jaipur

New Delhi, Jan 30 (PTI) Realty firm Manglam Group is investing Rs 150 crore to develop a commercial complex, comprising 3.1 lakh square feet of office and retail spaces, in Jaipur to tap rising demand from corporates and retailers.

The project 'Manglam Signature Elite' is located at Narayan Singh Circle in Jaipur, Rajasthan.

"We are investing Rs 150 crore to develop this project. We are selling office and retail spaces. We are also helping customers in the leasing of spaces," Manglam Group Director Amrita Gupta told PTI.

There will be a total of nearly 170 units in this project. It has dedicated three floors for retail and ten floors for corporate offices.

Gupta said the company has already sold 75 per cent of the total area.

"We are expecting a revenue of around Rs 200 crore from this project," she said.

The construction of this project is expected to be completed in the second half of this calendar year.

The available spaces range from a starting area of 735 square feet to a maximum area of 20,000 square feet.

Manglam Group has already signed a leasing agreement with Westside, a leading apparel retail chain from the Tata Group.

The company has recently announced the 'Manglam Rambagh' project, a luxurious residential project in Jaipur, with an investment of Rs 200 crore.

Founded in 2008 by Nand Kishore Gupta, the group has delivered 22,990 units. It has 69 completed and 24 ongoing projects. Beyond real estate, ventures like Manglam Resort, Saville Hospital, and Fun Kingdom amusement park are part of the group.