NewsCorporate ActionsTathastu Realty to Invest Rs 200 Crore in Premium Retail Project in Rewari, HaryanaTathastu Realty to Invest Rs 200 Crore in Premium Retail Project in Rewari, Haryana
Tathastu Realty announced plans to invest Rs 200 crore in a high-street retail project named 'Swarnim' in Rewari, Haryana. The project will be developed on a six-acre plot, featuring 1,200 shops with a launch price of Rs 14,000 per square foot. The company expects a total sales realization of approximately Rs 400 crore. The project will be funded through internal accruals and customer advances, with completion and possession scheduled for 2029. Executive Director Neeraj K Mishra emphasized the aim to bring a premium high-street shopping experience to Rewari.
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Tathastu Realty, a prominent real estate developer, has unveiled ambitious plans to invest Rs 200.00 crore in a high-street retail project in Rewari, Haryana. The project, named 'Swarnim', is set to bring a premium shopping experience to the region.
Project Details
The 'Swarnim' project will be developed on a six-acre plot, featuring 1,200 shops. Tathastu Realty has announced a launch price of Rs 14,000.00 per square foot, positioning it as a premium retail destination in Rewari.
Financial Projections
The company is optimistic about the project's financial prospects, expecting a total sales realization of approximately Rs 400.00 crore. This projection underscores the significant potential Tathastu Realty sees in the Rewari market.
Funding and Timeline
The Rs 200.00 crore investment will be funded through a combination of internal accruals and customer advances. This funding strategy demonstrates Tathastu Realty's confidence in the project and its ability to generate interest from potential shop owners.
The 'Swarnim' project is scheduled for completion with possession slated for 2029, giving the company ample time to execute its vision for a premium high-street shopping experience.
Management's Vision
Neeraj K Mishra, Executive Director of Tathastu Realty, expressed the company's ambition for the project, stating that their aim is to bring a premium high-street shopping experience to Rewari. This vision aligns with the growing trend of creating upscale retail spaces in emerging urban centers.
Market Implications
The substantial investment in Rewari signals Tathastu Realty's confidence in the area's growth potential. As cities beyond major metros continue to develop, projects like 'Swarnim' could play a crucial role in shaping the retail landscape of emerging urban centers in India.
The 'Swarnim' project represents a significant addition to Rewari's commercial real estate sector and could potentially attract both local and national retail brands, contributing to the city's economic development.
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