News: Bhumika Realty expects Faridabad land spend to top Rs 1,000 crore by March 2027-14-10-2026
Bhumika Realty, based in Delhi-NCR, said on October 14 that its cumulative land investment in Faridabad should exceed Rs 1,000 crore by March 2027. It has invested over Rs 550 crore there in the past 12 months and plans another Rs 450 crore to buy land for residential and commercial projects.
Uddhav Poddar, Chairman and Managing Director of Bhumika Group, told reporters the company has bought around 50 acres in Faridabad and is looking for more.
Its 5-acre mixed-use project ICON on Delhi-Mathura Road involves Rs 700 crore. A 15,000 sq ft experience centre with a sample apartment has opened, and construction is under way. The 27-storey building will have 88 premium 3BHK apartments of 2,650 sq ft and 2,950 sq ft, priced at Rs 3 crore to Rs 4 crore, with retail on the podium and first four floors and the clubhouse on the fifth and sixth. The company expects Rs 1,500 crore in sales revenue. The plot was acquired under the Transit-Oriented Development (TOD) policy, which earlier capped residential use at 30%.
ICON has secured about one lakh sq ft of retail leasing, including 24,000 sq ft to Lifestyle and a 25,000 sq ft PVR INOX multiplex, plus Samsung and an Apple reseller.
Poddar told Hindustan Times Real Estate that the next project, on 5-10 acres, will be a branded residences development in advanced discussions. The 20-acre Sector 114 project, mainly plots, has its development licence and awaits RERA registration.
Bhumika Group also has interests in retail, hospitality and logistics, and has completed a mall and a hospitality project in Udaipur.
