Whiteland Corporation to invest Rs 3,500 crore for expansion
Real estate development company Whiteland Corporation has acquired
additional commercial land in Gurgaon for expansion and is consolidating its land bank to cover
almost 80-100 acres for over Rs 3,500 crore, a top company executive said.
“We are gearing up to launch a major integrated residential project of almost Rs 3,500-4000
crore around Diwali this year. We are in talks with global names in the architectural and
designing space for creating landmark destinations,” Navdeep Sardana, founder and chairman
of the Gurugram-based Whiteland Corporation said.
The company has projected a turnover of Rs 7,500-8,000 crore over five years, Sardana said.
The Indian real estate market, which suffered a massive downturn amid the pandemic, is now
reviving in sync with economic activity, various industry reports said. The country’s real estate
sector is expected to grow at 15% from $60 billion in 2010 to $1,000 billion by 2030, and
contribute 13% of India’s GDP by 2025, valuation and consulting firm RBSA Advisors said in a
According to the report, residential prices are expected to start increasing again amid the revival
and affordable housing projects too will fuel sector growth. “The organised retail real estate
sector is expected to increase by 28% to 82 million square feet by 2023,” the report added.
Whiteland Corporation has interests across commercial, residential and retail sectors and a
customer base of over 25,000 clients, according to information on its website. Its existing
projects include the Rs 300-crore SCO, besides commercial and residential projects.
Knight Frank India said in another recent report that the current fiscal year could see real estate
companies shore up profitability backed by consumer demand, infrastructure development and
more job creation.
The Delhi-NCR region is among the fastest growing real estate markets in the country, both for
commercial blocks, affordable and high-end residential projects and high net worth investors,
according to the industry reports.
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