DLF Garden City Township Project in Panchkula

Published: May 26, 2008 at 6:11 PM | Author: Administrator
News Source: Business Standard

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Delhi based DLF group is coming up with a residential township project in Panchkula. The project called DLF Garden City Project near Panchkula will be spread across 200 acres. The company is said to have acquired 34 acres, looking out for the rest. The DLF Garden City Project that is a residential project in an area of 34 acres, would offer 2, 3 and 4 Bedroom Hall Kitchen (BHK) apartments. While the 2 BHK would have 1250 Square Feet, the 3 BHK area would vary from 1550 Square Feet to 2050 Square Feet while the 4 BHK would comprise 2250 Square Feet to 2550 Square Feet.

Already DLF, one of the leading real estate developers of India, has its presence in Chandigarh as the company has set up an IT Park spread over an area of 12.4 acres with an investment of around Rs 240 crore. An official from the DLF, while confirming the news said that DLF has acquired 34 acres of land near Panchkula on the National Highway-22 and the project would be rolled out soon. The said deal has been finalised at a whooping amount of Rs 114 crores.

According to officials, the DLF is awaiting license from the Haryana Government, which will come by this month end after which the work for the township would resume. Apart from the residential apartments the integrated township would have special features like Club House, Schools, which could be in collaboration with Vijay International School and Educom and a hospital to be set up by Fortis or Wockhardt.

Meanwhile, unconfirmed news revealed that DLF was eyeing nearly 400 acres at Mullanpur near Mohali area. The investment in this project is again estimated to be over Rs 1 crore. According to officials instead of the integrated township the DLF has proposed to create a plotted township in this area.

It is pertinent to mention that after a 123 acre land bid by DLF was outbid by Parsavnth in 2006, DLF is said to have been scouting for land near Mohali and Panchkula.

Earlier also DLF has shown interest in setting up township in UT and its fringes and third one at Shimla. In Punjab also the company has was keen interest to set up retail projects in Ludhiana, Jalandhar and Amritsar, and 5 acres of land has already been purchased in Amristar for the venture.