DLF plans to invest about Rs.4,200
crore in two residential projects and a retail mall in Bangalore.
The retail mall to be spread on an
area of 15 acre of land in Whitefield will entail an investment of Rs.1,200
crore. About two million sq.ft of retail space will be developed, which will
also feature the Hilton Hotel group's flagship five-star brand, Hilton. The
250-room hotel will be operational by 2009.
The residential projects would have an
investment of about Rs.3,000 crore. One of them will be located in Bannerghatta
Road on an 85 acre property and will have about 3,000 residential units. The
other project, to be located near Electronics City, will be spread over 130
acres of land and will have 7,000 residential units. The residential units will
be a mix of villas, high-rise and low-rise apartments. Work on both the projects
will commence by September 2007 and is scheduled for completion within three to
five years.
Also See:
DLF plans JV for
hospitals, townships (02-Jun-07)