NCR-based Landmark Group on Wednesday announced an investment of Rs 400 crore in the second phase of its luxury residential project, Landmark SKYVUE, in Sector 103, Gurugram, along the Dwarka Expressway.
Spanning four acres out of the total project size of 11 acres, this phase will include 240 three-BHK and 4.5-BHK units across two high-rise towers. It is expected to generate revenue of about Rs 1,200 crore.
“The towers will have ground plus 42 floors, with private elevators, sky lounges and an observation deck as part of the project,” said Sandeep Chhillar, chairman, Landmark Group.
He added that the company has owned the land parcel since 2009, and all approval charges have been paid to the government.
Chhillar said the construction cost would be met through internal accruals, bank loans and customer advances against sales.
The project has been launched at Rs 17,500 per square foot, with apartment prices ranging between Rs 5 crore and Rs 7 crore per unit.
The chairman further said demand continues to remain strong in the Gurugram market, supported by infrastructure developments, including the opening of the Dwarka Expressway.
The first phase of the project was delivered in 2013, while the second phase is expected to be completed within four years. A third phase is also planned for launch later this financial year.
The company has so far delivered 15 housing and five commercial projects, mostly in Delhi-NCR.