How Is the Landmark Group Expanding into Commercial Real Estate?
Landmark Group is investing nearly ₹1,000 crore in its upcoming development, Landmark One, in Gurugram. The project is located on Golf Course Extension Road and is described in the article body as covering more than 2.1 million sq. ft. It is expected to create new opportunities in Gurugram’s expanding commercial real estate market and respond to rising demand for modern office spaces.
What Are Landmark One’s Main Characteristics?
The project is planned to offer large and flexible office spaces, with land parcels described as ranging from approximately 55,000 sq. ft. to one lakh sq. ft. According to ET Realty, the project has an estimated total sale value of around ₹4,000 crore. The State Bank of India has approved ₹330 crore in development finance for the first phase, while the construction cost of that phase is estimated at ₹481 crore.
The development is in progress, with completion expected in May 2033 according to the RERA blueprint cited in the submitted article. The company also plans to sell some office space to generate long-term rental income while retaining approximately 10 lakh sq. ft.
How Could This Investment Impact Gurugram’s Commercial Real Estate Market?
The project is expected to add to the supply of office space for corporates and business occupiers in and around Gurugram. It could also strengthen Golf Course Extension Road’s position as an emerging commercial precinct. The article further describes an integrated mixed-use campus adjacent to the existing Landmark One on Dwarka Expressway, comprising a five-star hotel, branded serviced apartments, retail, corporate and residential development.
The combined sales value projected for the two projects is ₹15,000 crore. The article presents this figure as an indication of the company’s confidence in longer-term demand in the Gurugram real estate market.
Summary
Landmark Group plans to invest nearly ₹1,000 crore in Landmark One, a large commercial development on Gurugram’s Golf Course Extension Road, adding office space and supporting the city’s expanding commercial real estate market.
