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Hines JV to Develop Condo-Led Complex on Delhi’s Birla Mills Site
The Delhi real estate market is set for a transformation as Hines, a US-based real estate firm, partners with Texmaco Infrastructure & Holdings, Conscient, and HDFC Capital to develop a premium residential and retail complex on the Birla Cotton Mills site in Kamla Nagar, North Delhi. The $460 million project aims to introduce modern condo residences and Grade A retail spaces, making it one of the most anticipated real estate developments in Delhi-NCR.
Project Overview: Key Highlights
| Feature | Details |
|---|---|
| Location | Kamla Nagar, North Delhi |
| Project Size | 3 million sq. ft. (278,709 sq. m.) |
| Land Area | 10 acres (4 hectares) |
| Developers | Hines, Texmaco, Conscient, HDFC Capital |
| Investment Value | INR 40 billion ($460 million) |
| Property Type | Residential-led mixed-use complex |
| Key Components | Luxury condos, premium retail spaces |
| Target Buyers | Mid-income and luxury homebuyers |
Why is this Project Significant for Delhi’s Real Estate?
🏡 Addressing Housing Demand
- North Delhi has limited supply of modern residential projects, and this development will cater to the rising demand.
🏢 Boost to Retail & Commercial Spaces
- The project will introduce high-end retail outlets, filling the gap for Grade A retail spaces in Kamla Nagar.
🌇 Revitalization of an Iconic Landmark
- The Birla Cotton Mills site, owned by Texmaco for over a century, will be transformed into a world-class real estate hub.
🌍 Sustainable & Modern Living
- The project aims to offer green spaces, smart amenities, and sustainable infrastructure, aligning with Delhi’s urban growth vision.
Strategic Partnership: Who’s Involved?
| Developer | Role in the Project |
|---|---|
| Hines | Global expertise in real estate development |
| Texmaco Infrastructure | Landowner with deep market knowledge |
| Conscient | Leading Indian residential developer |
| HDFC Capital | Financial backing with focus on affordable housing |
🔹 Hines India country head Amit Diwan emphasized that the project will create a high-quality residential and retail destination, fulfilling Delhi’s growing demand for modern homes.
🔹 Vipul Roongta, MD & CEO of HDFC Capital, highlighted the long-term partnership model to support sustainable housing growth in India.
🔹 Texmaco chairman Akshay Poddar noted that the collaboration will honor Delhi’s heritage while creating a modern urban ecosystem.
Impact on Delhi-NCR Real Estate Market
✅ Increased Investment Opportunities
- Real estate investors can expect high ROI due to the premium location and developer credibility.
✅ Job Creation & Economic Growth
- The project will generate construction, retail, and real estate jobs, boosting the local economy.
✅ Improved Urban Infrastructure
- The development will enhance Kamla Nagar’s connectivity and lifestyle offerings.
✅ Rising Property Values in North Delhi
- Property prices in Kamla Nagar are expected to rise once the project nears completion.
Hines’ Growing Presence in NCR
Hines has a strong real estate presence in Delhi-NCR, with major projects including:
🏢 Gurugram Office Developments:
- One Horizon Centre (2014) – Joint venture with DLF
- Atrium Place (2025) – A four-building commercial complex
- Skyview Corporate Park – Developed with Shyam Telecom
🏡 New Residential Ventures:
- Gurugram: $180 million residential project with Pioneer Urban (2024)
- Delhi: Condo-led complex at Birla Mills site (2025)
📈 Future Plans:
- Expanding residential and office portfolio across Gurugram, Delhi, and Noida.
Contact Evantis Realty India for Investment Opportunities
📞 Phone: +91-9310105009
📧 Email: info@evantisrealty.com
🌐 Website: https://evantisrealty.com/in/
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Evantis Realty is a leading Real Estate Broker in Gurugram & Delhi NCR specializing in high-end properties across the city. With years of experience and a deep understanding of the market, Evantis Realty offers personalized service and expert advice to help clients navigate the dynamic Gurugram & Delhi NCR Real Estate Market with confidence.
