Bharti Realty to pump Rs 10,000 cr to develop office space
The office space is spread over on about 100 acre near Delhi airport
Bharti Realty is planning to make an investment of over Rs 10,000 crore to develop 10 million sq ft Grade A office space in the next phase of expansion of Aerocity in Delhi.
The office space is spread over on about 100 acre near Delhi airport. The proposed Gateway and Downtown districts will have an additional 2.5 million retail space. The construction is expected to start by the end of 2020 and within three years, it will start delivering at least a million in phases.
Of the 10 million sq-ft, Bharti Realty plans to keep 20% of it as retail like it has done in Worldmark one and two in Aerocity. The two districts will have combination of multiple buildings and due to height restrictions, buildings can’t be beyond eight floor.
Gateway will be developed first and every six months the company will keep on adding at least a million sq ft space. It will take seven-eight years to complete the project. Phase-I of Aerocity has 1.33 million sq ft of mixed-use, but 80% of it is office space and almost 100% is leased out.