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DLF plans 14.4B-rupee investment in Gurugram, India, project

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DLF plans 14.4B-rupee investment in Gurugram, India, project

Indian developer DLF Ltd. plans to invest 14.39 billion rupees for the Cyber Park commercial project in Gurugram, India, Mint reported.

DLF recently received environmental clearance to expand the office space in the project by roughly 1 million square feet.

Citing people familiar with the matter, the report noted that the roughly 12-acre project's total leasable area will now be roughly 2.5 million square feet, compared to the previous plan of 1.7 million square feet.

Construction is in advanced stages and the project has been 60% pre-leased.

DLF has also acquired another 12 acres in the city for 15 billion rupees for a commercial project, according to the report.

As of Aug. 31, US$1 was equivalent to 70.88 Indian rupees.