V Square, a real estate development management company, has launched a commercial project named 114 Avenue, located at Sector 114, Delhi Extension, Gurgaon.
114 Avenue is an integrated commercial hub consisting of retail and office spaces, fine dining restaurants, business centre and service apartments. The project will have a hypermarket on the lower ground floor and retail spaces on the ground and first floor, fine dining and food court and business centre on the second floor, office spaces on the third and fourth floors and serviced apartments from the fifth to eighth floor.
Said Vivek Seth, managing partner of V Square, “The integrated project will be one of the most innovative and iconic business hubs. This is a first of its kind project with a total area of 400,000 sq ft. The ground, first and second floors have retail space, which will range from 500-50,000 sq ft. The third and fourth floors have office spaces with sizes ranging from 500-20,000 sq ft, and the fifth, sixth, seventh and eighth floors consist of serviced apartments.'
The price for retail and office spaces will range from Rs 5,000-8,000 per sq ft and for serviced apartments from Rs 5,800-7,000 per sqft.
“The retail space will have an advantage due to the project’s proximity to Dwarka. Office spaces can be customised to the requirement of a business traveller who flies in regularly and needs an office closer to Delhi and Gurgaon. The serviced apartments, being closer to the airport, will serve the purpose of a hotel,” Seth added.
The construction will start from September and will take 36 months to complete.
Explaining the price advantage, he said, “This integrated concept will serve the needs of the frequent flyer and anyone who desires to tap the potential of the growing community in Dwarka and Gurgaon. The rates are very high in Dwarka and investors are getting the entire facility at about 10 per cent of the cost, making it even more desirable.”
