Eros Group to invest Rs 350CR in Delhi NCR Property Market

Eros Group to invest Rs 350CR in Delhi NCR Property Market
18/01/2020 , by , in News/Views

Realty firm Eros Group said it will invest ₹250 crores to develop a new Luxury Housing Project in Charmwood Village, Sector-39, Faridabad. The company, which is also into hospitality sector, will develop 76 units in the new project called ‘Edenwood Towers’. The company will meet project costs from internal accruals and advance payments from customers.

Spreading over 2.662 acres comprising 2 towers with 76 lavish apartments, the company has launched this project at Carpet Area 191.11 SQ.MT / 2057.11 SQ.FT (approx.), Balcony Area 32.20 SQ.MT/ 346.60 SQ.FT (approx.) and Super Area 314.87 SQ.MT / 3389.00 SQ.FT (approx.) respectively.

The project will be adjacent to the company’s existing renowned projects like Eros Mayfair Tower, Eros Royale Retreat, Eros Kenwood Towers, and Eros Kenwood Towers, etc.

Avneesh Sood Director Eros Group Said, We will invest around ₹ 250CR over the next 2-3 years on the development of this project, after the successful delivery of various housing projects in this location, we have launched a new phase of development. ‘Edenwood Towers’ is a HRERA registered project and it will be delivered in September 2023.

He further said the company will also invest additional ₹100CR to develop commercial and clubs in their ongoing housing project Sampoornam I at Greater Noida in Uttar Pradesh.

Previously Eros Group has already invested ₹125CR to launch the second phase of the project Sampoornam I. Eros Group is a 70-year-old company and has two hotels — Shangri-La’s Eros in central Delhi and Eros Radisson Blu Hotel in Faridabad, Haryana. It also runs Vishal Cineplex in West Delhi.

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