Smart World to invest Rs.1,200-Cr in developing 2.8 mn sq ft in Gurgaon

Smart World Developers will invest INR 1200 crore in developing 2.8 million sq ft of residential space spread across two projects in Gurgaon. Smart World has bought 16 acres in sector 113 in Gurgaon on the Dwarka Expressway. It will develop 1.5 million square feet in the first phase of the project. The company is in talks to acquire two more land parcels within Gurgaon. Smart World, backed by India Infoline, Piramal Group and the Bansal Family (promoters of M3M group) aims to invest INR 8,000-10,000 crore in developing residential projects in Gurugram in the next few years.