Realty firm, Whiteland Corporation will invest an estimated INR 5,600 Crore to develop a luxury housing project in Gurugram. They have partnered with Marriott International to manage the property under the name Westin Residences.
The upcoming Westin Residences will be developed on an anticipated 20 Acres plot on Dwarka Expressway. Marriott International will serve as the service provider for this project, which will unfold in two phases. In the first phase, Whiteland will launch 674 branded residences which is set to be launched in the second quarter of this financial year. The company will develop 20 Lakh SqFt in the first phase followed by another 40 lakh SqFt in the second phase. Westin Residences boasts 3 and 4BHK apartments ranging from approximately 235 SqM to 386 SqM.
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Of the total estimated investment, Whiteland plans to invest around INR 5,000 Crore in construction and they have already invested INR 600 Crore in land acquisition and approval costs. They also plan to build around 1,600-1,800 branded homes in this project, said Navdeep Sardana, founder of Whiteland Corporation.
Additionally, Whiteland Corporation is developing five other projects, including three housing and two retail real estate projects. These projects combined cover an anticipated 45 Lakh SqFt area. Furthermore, Marriott International has 134 operational branded residence projects globally, with another 121 under development.
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