Overview
- The joint venture is being executed through a Securities Subscription and Purchase Agreement between Gurugram Commercity Ltd and RMZ’s Millennia Realtors.
- RMZ will acquire a 50% equity stake in Gurugram Commercity Ltd for up to ₹1,283 crore via a mix of share purchase and subscription.
- The partners plan an 18-acre development on Southern Peripheral Road in Gurugram that will include office space, retail, and hotels.
- Signature Global’s filing projects a total capital value of ₹14,000–₹16,000 crore on completion and cites an FSI-linked built-up figure of 3.94 million sq ft.
- Coverage carries conflicting size metrics for leasable and office areas, and the companies have not disclosed a construction timeline or approvals.