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Tulip Infratech has resurrected a 3,000 crore dormant real estate project with around six million square feet of residential and commercial space on the prominent Golf Course Road in the satellite city. The project will benefit about 200 purchasers who have been waiting for allocation since 2004 as well as the lenders who have taken over the 19-acre land from Vipul owing to payment default. Parveen Jain, CMD of Tulip Infratech, stated that the company plans 10 ultra luxury residential buildings with around 1100 housing units, a commercial tower of 600,000 sq ft, and another small commercial tower of 80,000 sq ft.
Tulip has made modest revisions to Vipul’s original plan and obtained the agreement of two-thirds of the allottees, as per RERA guidelines for reviving a stalled project where around 185 crore is receivable from the existing buyer. The project is located on 19 acres in Sector-53 on Golf Course Road, Gurgaon, in the TOD (Transit Oriented Development) zone. The homes will be one of the tallest buildings on Golf Course Road, with ten 138m towers with 40 floors each and a Sky Hub. Tulip employs the most recent international ‘Mivan construction technology,’ in which the structure is 100 percent reinforced cement concrete with no brickwork, making the structure more sustainable, long-lasting, durable, with faultless strength and earthquake resistance.
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