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Sushma Group to infuse Rs 450 crore in four projects

Tuesday, 23 Feb 2021
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Sushma Group, a real estate developer, is planning to invest Rs 450 crore in four projects in few years. 
 
Among the four projects, two are commercial – Metropol (Zirakpur) and Empiria (Zirakpur) and two are residential – Belleza (Zirakpur) and Elementa (Kasauli). 
 
The investment will be through internal accrual, sale and IIFL except for leisure residential project Elementa in Kasauli where the investment will be made through self and sale only. So far, the Group has delivered 14 projects with a total area of 3.6 million sq ft. 
 
The Belleza, Metropol and Empiria projects are part of Sushma Downtown, a 60-acre township in Zirakpur on PR-7 Airport Ring Road which directly connects Mohali and Zirakpur, and will soon be extended to link Panchkula as well. 
 
The luxury residential project Belleza will have variants of three-BHK and four-BHK with amenities such as organic farms, personal herb garden, reflexology lawns and musical walkways. 
 
The project is spread over 11.43 acre with a total built-up area of 18,18,322 sq ft. The investment in the project is around Rs 180 crore.  
 
The seven acre commercial project Empiria will have a total built-up area of 13,52,863 sq ft and the investment in it will be around Rs 130 crore. 
 
Some of the highlights of Empiria are High Street experience with climate control Sky Dome, mix of retail, Director's chambers and business spaces, expansive food plaza, double basement development. 
 
Spread over an area of 4.10 acre, Metropol will be developed with an investment of Rs 90 crore. With the total built-up area of 9,45,307 sq ft, Metropol will have two grand sky-walks, 650 ft wide frontage, and is attached to approximately four acre of green space. 
 
The fourth project Elementa is a leisure-residential development in Kasauli, Himachal Pradesh and is spread over 4.42 acre, will be developed with an investment of Rs 50 crore. 
 
All apartments here will have an uninterrupted valley view, and the project is 6,000 ft above sea level. The options available in Elementa include Studio (630 sq ft), one BRK (880 sq ft), and three BR (1,335 sq ft). 
 
Post-lockdown, the real estate developer has started the possession of five residential and commercial projects.

 

 
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