NEW RESIDENTIAL PROJECT ON DWARKA

EXPRESSWAY

Pareena Infrastructures Pvt Ltd, with over two decades in the construction and contracting business, is now planning to enter into real estate development as an independent player. A K TIWARY writes

    Pareena Infrastructures Pvt Ltd, which has a major portfolio of work in the Delhi and NCR region, Panipat, Punjab and Rajasthan, has a wide experience in retail projects, commercial developments and exclusive residential communities. 
    As an independent developer, it plans to utilize its huge land bank of 9 million square feet in the NCR, of which 1 million sq feet has already been developed and delivered according to the company spokesman. 
    Surender Verma, the chairman of Pareena, is confident that Pareena can make a huge difference in the real estate market with its in-house construction expertise and resources built over these years. The company now proposes to launch a project on the Dwarka Expressway, Verma says. 
    Virender Verma, the MD of Pareena says: “With over a decade of expertise in construction and engineering, Pareena has earned the trust and support of clients, and we are confident in our ability to deliver superior products in accordance with the requirement of our customers. We have established ourselves as a leading engineering and construction firm in the region with our commitment to deliver superior value to our stakeholders through quality projects and services. An understanding of our clients’ requirements and timely delivery has led to our acceptance as a key player in the real estate industry.” 
    Virender Verma says: “We believe in consistency, transparency and a customer-friendly environment. With our philosophy, values, and mission firmly in place, we are targeting controlled growth and sustained profitability in the future. Our responsibility to our clients, employees, and shareholders remains the principal focus of our operations and is defined by our corporate values. 
    “We have stood the test of time with our transparency and good corporate governance, which remain on top of our agenda. As we move into the future, Pareena is better prepared to go beyond the design stage, creating a physical reality that can be touched and felt. We are ready to take on whatever challenges that will come our way without losing sight of our vision. We remain committed to excellence and growth in order to become a unique and distinct company.” 
    Vineet Nanda, a realty expert, says: “A new residential belt has emerged along the forthcoming Dwarka Expressway or Northern Peripheral Road (NPR). The 18km-long expressway will provide an alternative link between Delhi and the commercial hub, Gurgaon. Based on its proximity to the Dwarka sub-city in Delhi and to the city centre of Gurgaon, the expressway can be subdivided into two parts — North and South. The northern stretch starts from Sectors 103-106, 109-113 in close proximity to Dwarka and ends at Sector 99 near the turn where the NPR connects with the NH-8. The entire belt will be immensely benefited by the new link.” 
    Sectors 22-23 of Dwarka are in close proximity to the selected destination and these are established micro markets with the rate of residential units averaging at Rs 10,500 per sq ft. However, the current rate in Sectors 103-106, 109-113 on the Dwarka Expressway is around Rs 5,500 per sq ft; Nanda believes that based on the investment rationale, the rates here can be expected to rise to Rs 10,500 per sq ft in the near future.

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