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India's First International News Journal

Sunday, October, 2, 2022

Press Release

Rise Infraventures Hails Infrastructural Developments in Haryana by the Government

Rise Infraventures Limited’s Sachin Gawri and Shantanu Gambhir hail infrastructural development plans taken by Haryana Chief Minister Manohar Lal Khattar. The Haryana Government made a slew of announcements for infrastructure projects worth around Rs. 250 crore in Nuh to address issues like lack of water supply and road connectivity and to improve the health and education infrastructure in Nuh. Haryana also witnessed an announcement by Ingka Centres, part of the Ingka Group that includes IKEA Retail and Ingka Investments, about IKEA’s first mixed-use development (shopping centre) project in India that would come up in Gurugram.

In fact, Gawri and Gambhir were instrumental in bringing the Ikea to Gurugram. The plan is to improve the infrastructural development in the state, especially Gurugram. The estimated investment for the Ikea project is around Rs. 3,500 crore. While construction will start in early 2022, the new meeting place is expected to generate more than 2,500 jobs and contribute to further growth of organised retail in India.

Sachin Gawri, Founder and CEO, Rise Infraventures Limited, said, “The infrastructural developments will help in employment growth leading to further increase in real estate demand in the city. The state has been focusing majorly on infrastructure, and which is why real estate growth here has been better than in other neighbouring regions. Robust infrastructure has been the most effective tool to attract companies to the city and will work in favour of the city in future too.”

Car trading platform CarDekho also announced the opening of its first-ever used car mega refurbishment centre at Gurugram (Haryana); Meta, the newly formed parent company of Facebook, recently unveiled its new office in Gurugram spanning 130,000 sq. ft., the workplace is its first standalone office facility in Asia.              

Shantanu Gambhir, Managing Director, Rise Infraventures Limited, said, “Big Corporate are looking to expand their business, and are looking at Gurugram as the best base to operate from. The present state government is ensuring that the economic growth picks up the pace immediately. The steps taken in recent days are an indication that words and actions are in sync with each other. Due to its infrastructure, Gurugram has been able to hold on to its position among the corporates since the early 2000s.”

Work on the proposed infrastructure projects to ease traffic congestion between Gurugram and Jaipur on NH-48 may commence next month with tenders for at least two flyovers, set to come up, at Bilaspur Chowk and Manesar, at final stages.

The Southern Peripheral Road (SPR) is witnessing infrastructure projects, including extending the Yellow Line of the Metro, converting the SPR to a six-lane expressway, and connecting it to the Gurugram-Faridabad Road. The signal-free underpasses on Golf Course Road have increased connectivity with IGI Airport. Connectivity is expected to improve dramatically with the opening of the first urban expressway, the Dwarka Expressway, in 2022. The Dwarka Expressway, which contains New Gurugram, has contributed the most to the supply and sales of real estate in recent years. Sohna Road will gain immensely when the first phase of the Delhi-Mumbai E-way opens in late 2021; the announcement of the Delhi Mumbai eway's completion date will make Gurugram stand out from other NCR cities as a connection to Mumbai, India's financial hub.
Disclaimer: This Press Release has not been vetted or endorsed by The Eastern Herald's editorial staff.

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