Landmark Group, a Gurugram-based company, has raised Rs. 330 crores in construction finance from SBI in relation to its upcoming commercial development 'Landmark One' located on the Golf Course Extension Road in Gurugram. The company will use the funds to meet its construction financing requirements and help it with its construction progress.
Landmark One is planned as a Grade A+ commercial development, with large floor plates and extensive parking facilities. The financing marks a fresh funding milestone for the project as the developer moves ahead with its execution.
SBI Funding to Support Landmark One Construction
The Rs. 330 crore facility from SBI is earmarked for the construction and development of Landmark One. According to Sandeep Chhillar, chairman of Landmark Group, the financing will provide a financial base for construction and support the project's execution.
Construction finance is generally used to meet development-related expenses as work progresses. In this case, the funding is intended to help Landmark Group continue work on the Gurugram project. The announcement, however, does not disclose the project’s total development cost or a portion of the expenditure that the SBI facility will cover.
Commercial Project Planned on Golf Course Extension Road
Landmark One is a project developed on Golf Course Extension Road, one of the prime commercial and residential areas of Gurugram. The project has been conceptualized by Sohrab Dalal, the co-founder of DPA, and it is planned as a large-scale commercial office development.
The development is planned with floor plates of approximately 100,000 sq. ft., allowing businesses to accommodate larger office operations within a single floor, depending on their space requirements and the final layout.
In addition, the project will be located near essential business and transport hubs. It will offer access to Cyber City, AeroCity, Indira Gandhi International Airport, and Delhi-Mumbai Expressway.
These connections are relevant to commercial developments because businesses often consider access to transport links and established employment centres when evaluating office locations. However, the project's eventual occupancy and tenant mix have not been specified in the financing announcement.
Landmark One to Have 49 Elevators and 11 Parking Levels
The planned development will feature 49 high-speed elevators and 11 levels of parking. Alongside its large floor plates, these facilities form part of the infrastructure being planned for the commercial building.
The project will also include a dedicated amenity zone called The Hub. Planned facilities include conference spaces, a wellness centre and food and beverage offerings. These are intended to provide additional facilities within the development for people working in or visiting the property.
The development is also reported to be pursuing green building certification through LEED and IGBC. These are certification pathways rather than confirmation that the project has already received either certification. The final status of the certifications has not been established in the available project announcement.
Landmark One’s Construction Timeline Remains Unconfirmed
The SBI financing provides Landmark Group with additional funding for the execution of Landmark One. For a commercial development of this scale, construction finance can help meet costs associated with ongoing building work, although the facility's detailed terms and disbursement schedule have not been disclosed.
The project's large floor plates, parking capacity and planned amenity zone set out the principal features of the development. Its location on Golf Course Extension Road also places it within Gurugram's wider commercial property market.
No confirmed completion date or leasing details were specified in the available announcement. The project's next milestones will therefore depend on construction progress and subsequent updates from the developer.
