Lodha & MRG Partner for Rs 3,600 Cr Gurugram Real Estate Projects

Lodha Developers of Mumbai has formally entered the Delhi-NCR real estate market in a strategic alliance with Gurugram-based MRG Group, which is a great move towards the Mumbai-based company. The joint venture includes the production of two branded projects in prime Gurugram areas with a total revenue potential of over 3,600 crore, which highlights the size and scope of the project.

The JV is focused on achieving new standards in high-end residential and commercial real estate within the Delhi-NCR.

Key Highlights

• Lodha Developers enters Delhi-NCR via MRG Group tie-up.
• Two Gurugram projects worth Rs 3,600 crore planned.
• Focus on premium residential and commercial developments.

The established experience of Lodha in design excellence, quality delivery and brand trust together with the profound knowledge of local market by MRG Group is likely to respond to the increased demand of high-quality living and workspace solutions in Gurugram. Cushman and Wakefield were the consultants in this deal, which underscores the importance of the project in the investment environment of the region.

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Rajjath Goel, the Managing Director of MRG Group, commented on the partnership, saying, we are thrilled to be partnering with Lodha Group. Lodha introduces a culture of reliability and design quality and will be the one to create a much-needed vacuum of high-quality living solutions in NCR. This partnership demonstrates our belief in the further status of Gurugram as the most aspirational real estate market in India.

Lodha Developers Managing Director and CEO Abhishek Lodha had previously stated that Gurugram would probably form the beginning point of the company entering Delhi-NCR, though other areas of the NCR are being considered.

The firm also expects that it will conclude more land acquisitions in the area within the ongoing fiscal year, which will set the stage to launching of first projects in the next financial year, which will support its long-term growth strategy in North India.