New Delhi, February 22 Real estate firm BPTP Ltd has partnered with a landowner to develop an 11-acre housing project in Surajkund, Faridabad, as part of its expansion plan.
BPTP subsidiary Urban Realtech Pvt Ltd has entered into a joint development agreement with the landowner for the development of a residential group housing project on approximately 11 acres of land in Sector 39, Surajkund, Faridabad.
The proposed project is expected to have a developable area of more than 2 million square feet, the company said, but did not disclose the investment and revenue potential from this upcoming project.
Kabul Chawla, Chairman and Managing Director of BPTP, said: "We believe Faridabad continues to demonstrate strong growth momentum, supported by improving connectivity and evolving residential demand patterns. Surajkund, in particular, stands out as a differentiated micro-market with long-term potential due to its established ecosystem and natural setting."
This upcoming project will further strengthen the company's portfolio in the Delhi-NCR region, he added.
The BPTP group has delivered numerous residential and commercial projects across various locations in Delhi-NCR.
To expand their business, Indian real estate developers are partnering with landowners to build housing and commercial projects. This asset-light model allows real estate companies to focus solely on the development of projects.
Landowners also benefit as they earn more from joint development compared to simply selling land parcels to builders.
