Bhumika Realty plans to build a land bank of nearly 100 acres across three projects in Faridabad by March 2027, taking its cumulative land investment in the city beyond ₹1,000 crore.
The expansion will cover mixed-use development and plotted townships, with more than 50% of Bhumika Group’s investment directed towards Faridabad, chairman and managing director Uddhav Poddar said.
Poddar said Bhumika had set a benchmark for luxury homes in Faridabad and expected other developers to follow as the segment develops. He believes the city is at the right stage to attract more investment, with buyers able to access premium homes at lower entry prices than in Gurugram, Delhi and Noida.
In an interaction with The Financial World, Poddar said luxury home prices in Faridabad could rise from around ₹13,500 per sq. ft. currently to more than ₹25,000 per sq. ft. by 2030. The projection reflects his expectation of property appreciation as the market expands; it is not a guaranteed return for buyers.
Bhumika has invested more than ₹550 crore in Faridabad land acquisitions over the past 12 months. Poddar said the city’s large land parcels, established urban infrastructure and proximity to Delhi, Gurugram and Noida make it attractive for both homebuyers and developers. Proposed connectivity improvements, including a road link towards Noida International Airport at Jewar and a metro extension from Ballabhgarh to Palwal, could further improve access across the NCR. The metro extension remains at the planning stage.
The Icon combines homes and retail
Bhumika’s flagship mixed-use project, The Icon, on Delhi–Mathura Road combines residential units with retail and dining facilities. Residents will be able to access the mall directly from the development, avoiding the need to travel to a separate commercial complex for shopping and dining.
Of the project’s 88 residential units, only 11 remain unsold, according to the company. Poddar said he could have offered at least 200 additional units had more land been available along Delhi–Mathura Road.
The project has secured approximately one lakh sq. ft. of retail leasing, with brands including Lifestyle, PVR INOX, Samsung and an Apple reseller. Construction is underway, and Bhumika has opened a 15,000 sq. ft. experience centre featuring a sample apartment.
Funding and project management
Bhumika has a ₹170-crore funding arrangement with BGO for The Icon and a ₹500-crore platform with Blackstone-backed ASK Property Fund for plotted development. An initial ₹125 crore under the ASK arrangement has been deployed in Faridabad.
The company has acquired land across several sectors. Its plotted development in Sector 114 has received a development licence and is awaiting registration with the Haryana Real Estate Regulatory Authority.
Poddar also cited in-house property management as a differentiator, saying it gives the company direct control over operations and service delivery instead of relying extensively on outsourced management.
With a target of nearly 100 acres across three projects by March 2027, Bhumika is committing further capital to Faridabad’s luxury housing and plotted development segments. The company’s expansion is built around its assessment that the city offers room for larger projects, more premium housing and property appreciation as additional developers enter the market.
