Experion to invest Rs. 175-cr in commercial project in Gurgaon.

FDI-funded realty firm Experion Developers has tied up with Milestone Ventures to develop a commercial project in Gurgaon at a cost of about Rs. 175 crore.

The project, spread over about 4 acres land, would have a built-up area of about 4.3 lakh sq ft.

With this tie up, Gurgaon-based Experion would foray into commercial segment. It is already developing two housing projects and one township in Gurgaon.

'We have entered into an agreement with Milestone Ventures to develop a commercial project in Gurgaon,' Experion Developers Chairman Hemant Tikoo said.

The commercial project would be developed as green building, with USGBC's Gold Leed rating. The land parcel is owned by Milestone Ventures.

Asked about the project cost, Tikoo said the investment in construction would be about Rs. 175 crore.

The construction of the project has started and the same is expected to be completed in early 2018.

As per the agreement, the joint venture partners would share built-up area of this project.


BS