Bhumika Group to invest ₹700 cr in mixed-use development in Faridabad

NCR-based developer Bhumika Group will invest Rs 700 crore in developing a mixed-use development in Haryana’s Faridabad, with an estimated sales realisation of approximately Rs 1,500 crore.

 

Spanning around 5 acres, the project will include 88 premium low-density residential units in 3BHK-plus-study configurations, along with staff accommodation.

 

“The high-end residential will be complemented with high-end luxury retail, entertainment options such as a gaming zone, and multiple premium restaurants,” the company stated in an official statement.

 

While residential units will be priced at Rs 15,500 per square foot, retail stores will be leased at a rate of Rs 200 to 250 per square foot on the ground floor.

 

People in the know told Business Standard that brands such as Apple, Samsung and Vivo have already locked in for the retail component of the project. “The total construction timeline will be four years and three months, with all 88 residential units having been introduced in the initial launch,” the developer said.

 

Uddhav Poddar, chairman and managing director at Bhumika Group, said that the project reflects the firm’s long-term vision of developing spaces that go beyond construction and create meaningful urban ecosystems.

 

The second phase of the project will introduce a premium hotel tower featuring internationally styled suites designed for business travellers and long-stay guests.

 

Commenting on the choice of market, Bhumika Realty CEO Siddharth Katyal said that Faridabad is entering a defining growth phase, driven by large-scale infrastructure upgrades, improved expressway connectivity and the emergence of integrated townships.

 

“We are witnessing a clear shift in buyer sentiment, where homebuyers and investors are actively looking beyond traditional micro-markets and recognising the long-term potential of well-planned developments,” he added.

 

The group’s portfolio includes Urban Square Mall — the largest in Rajasthan. It will develop another hotel near the mall. The group has also entered the metro mall segment with a project at NHPC Metro Station.