Central Park Estates will invest Rs 2,000 cr in a new housing project in Gurugram

Real estate firm Central Park Estates will invest Rs 2,000 crore in developing a luxury housing project in Gurugram as part of its expansion plan.Central Park, owned by The Bakshi Group of Enterprises, which has a presence in real estate, infrastructure, hospitality and automotive industries, has launched a new project ‘Delphine’ in Sector 104, Dwarka Expressway.

In this project, the company will develop six towers spread over 7.85 hectares in three phases.In a statement on Monday, the company said the total investment would be Rs 2,000 crore through internal accruals and bank loans.

Construction will start in 2026 and the project is expected to be completed in 2032.

The development will be carried out in three phases with an estimated revenue realization of Rs 3,500 crore, the company said. Amarjit Bakshi, Chairman and Managing Director of Central Park, said, “Our entry into the Dwarka Expressway is a step towards developing Gurugram’s next luxury hub, where infrastructure, design and investment potential come together seamlessly.” Ankush Kaul, president – sales, marketing and CRM, Central Park, noted that the Dwarka Expressway is emerging as a high-quality real estate corridor with robust infrastructure and growing investor confidence.

Central Park Estates has developed many projects in the Gurugram market.

According to data analytics firm PropEquity, residential sales in Delhi-NCR rose 4 percent to 10,990 units in the July-September period, compared to 10,539 units in the year-ago period. However, new supply fell by 8 percent from 12,906 units to 11,936 units.