New Delhi, July 27: Bharti Enterprises' real estate firm Bharti Realty today said it has tied up with Eros Group to develop a housing project at Surajkund.
With this partnership, Bharti Realty has forayed into the residential segment. It will develop over 2,000 apartments in this project covering about 5.2 million sq ft of area.
"Bharti Land (the new development arm of Bharti Realty), has entered into an agreement with Eros Group to develop a 'smart' residential project in Surajkund, south of South Delhi," Bharti group said in a statement.
Bharti Realty, the subsidiary of Sunil Bharti Mittal-led Bharti Enterprises, manages around three million sq ft of Grade-A commercial real estate space. It is developing another four million sq ft of commercial real estate office space across prominent cities in the country.
The land size is about 50 acres, owned by Eros group which is into real estate, hospitality, entertainment and education businesses. Bharti Realty MD and CEO S K Sayal said: "We are pleased to partner with Eros to develop this smart project that will set a new benchmark in the residential sector in the NCR region."
He said the company has an established track record of strong execution and quality in the commercial segment. The housing project would also have an eminent school, a renowned healthcare facility, a neighbourhood shopping area along with other social amenities like clubs, sports facilities, etc. Eros Group MD Raman K Sood said: "Bharti is one of the most trustworthy brands in the country and I am sure that they will bring immense value for the customer."
"Real estate has been evolving from brick and mortar to intelligent homes. Bharti Land has taken a lead to redefine living through its vertical smart community concept," Sood added. The Bharti Group has presence in telecom, agri-business, financial services, retail and real estate among others.