GBP Group plans to bring multiple real estate projects in Punjab

Raman Gupta, Director, Branding & construction, GBP Group

One of the most trusted developers of the Tricity region, GBP Group has been relentlessly working to change the face of real estate in Punjab. The Group has plans to deliver 20 lacs sq ft residential and 10 lacs sq ft commercial by 2022. The total investment in all the projects would be around Rs 1600 crore.

The group has a futuristic project in the commercial segment called Centrum, a versatile project by GBP Group that will become Tricity’s third-largest commercial space slated for completion by Dec-2022. The upcoming commercial space offers a wide range of inventory in retail shops, Multiplex, Soho, Office spaces, studios, hotels, banquet halls, and food courts.

The group has also ventured into providing residential plots at GBP Smart City in Mohali. The cost of this project is 100 crore and will be funded through promoter funding and bank loan. The plots are close to Airport Chowk, the epicenter of bustling activities, and an upcoming four-lane expressway is slated to be fully functional in a year; apart from this Kharar-Ambala has all the amenities to have a fine livability quotient. Aerocity and IT City are nearby two ambitious commercial projects that will be providing the residents with an array of options in retail, entertainment, and recreation when fully operational.

Overall, the Group is planning to launch five new projects this year, two commercial and three residential, in areas like Peer Muchalla, Airport Road, New Chandigarh, Derabassi, and Mohali extension. The three months post lockdown saw GBP Group selling 295 units, which corresponds to around Rs 200 crore of business. The units were in Camellia in Kharar (90), Athens (100 units) in Zirakpur, Techtown (30) in Mohali, Centrum (30) in Zirakpur, and Dera Bassi (45).

Elaborating more on the vision of the group, Raman Gupta, Director, Branding & construction, GBP Group, said, “We are very positive with our delivery timelines, it is only possible due to the support from our associated stakeholders. The lockdown has established multiple trends in the real estate sector, it is only a matter of time that some of them would stay. Customer preferences have changed to a great extent, real estate is increasingly being viewed as an investment opportunity by a large section of buyers, this was not the case in pre-COVID times. The prevalent market scenario is also motivating for the buyers to enter into a real estate agreement. Our efforts remain to offer a real estate development for the distinct sections of buyers through our multiple projects.”

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Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.