Table of Contents
Eldeco Group’s : Realizing Hills’ Housing Demand
Eldeco Group’s, renowned for its real estate ventures across multiple cities, is set to invest ₹300 crore in constructing an ultra-luxury housing project in Himachal Pradesh. The initiative aims to meet the escalating consumer demand for high-end residential properties in the hills. With existing projects in key locations like Lucknow, Kanpur, Agra, Greater Noida, and others, Eldeco Group continues to expand its footprint.
Strategic Land Acquisition
The Delhi-based realty firm has acquired a 30-acre land parcel in Sirmaur district to develop an ultra-luxury holiday home project. Establishing a dedicated subsidiary named ‘Terra Garden,’ Eldeco Group plans to undertake similar projects across various tourist destinations.
Eldeco Group’s :Vision for the Project
“We acquired a 30-acre land parcel on a hill a few years ago. We will be developing 80 villas in this project,” shared Amar Kapoor, CEO of Terra Grande by Eldeco Group. The initial phase includes the launch of 35 villas for sale, starting at ₹5.5 crore.
Substantial Investment and Timeline
Eldeco Group commits an investment of approximately ₹300 crore for the development of this project. According to the registration with RERA, Terra Grande, the Eldeco Group’s arm, envisions completing this project within seven years. Kapoor also expressed the company’s interest in identifying suitable land parcels for vacation home projects in states such as Himachal Pradesh, Uttarakhand, and Goa. Additionally, the company is open to exploring joint ventures with landowners to expand this housing vertical.
Growing Demand for Luxury Villas
“The demand for independent luxury villas has grown significantly in the last few years,” Kapoor emphasized. Eldeco Group, with a legacy in real estate development since 1985, boasts a diverse portfolio encompassing integrated townships, high-rise condominiums, industrial estates, malls, and office buildings.
Impressive Track Record
With around 30 projects in active execution stages, Eldeco Group has delivered more than 30 million square feet, catering to over 30,000 satisfied customers. The group’s geographical presence extends from Lucknow, Kanpur, Agra to cities like Neemrana, Rishikesh, and Jalandhar. Additionally, the Eldeco Sidcul Industrial Park at Sitarganj, Uttarakhand, spanning 1,200 acres, further establishes the group’s commitment to holistic real estate development.
Eldeco Group’s :Diversified Companies
Eldeco Group’s extensive project portfolio spans cities such as Lucknow, Kanpur, Agra, Greater Noida, Noida, Gurugram, Panipat, Sonipat, Ludhiana, Jhansi, Bareilly, Panchkula, Neemrana, Delhi, Kasauli, Rudrapur, Gorakhpur, Rishikesh, and Jalandhar. The group also manages the 1,200-acre ‘Eldeco Sidcul Industrial Park at Sitarganj, Uttarakhand.’ Notably, Eldeco Group operates through two major entities: Eldeco Housing and Industries Ltd (EHIL) and Eldeco Infrastructure and Properties Ltd (EIPL). EHIL, listed on the Bombay Stock Exchange, focuses on projects in Uttar Pradesh, while EIPL, established in 2000, undertakes projects in Delhi-NCR.
This strategic investment in Himachal Pradesh aligns with Eldeco Group’s commitment to delivering premium living spaces and diversifying its offerings to meet the evolving preferences of homebuyers.