Realty firm Indiabulls to build residential space in metros

Indiabulls Real Estate plans to develop 3.5 million square feet area for commercial purposes and build 50,000 residential apartments in Mumbai, Delhi and Chennai.

According to media reports, the real estate company plans to have about 1.4 million square feet of constructed space by March-April this year (2008).

Indiabulls is developing a residential project in the National Capital Region with real estate major DLF. Both the companies have equal stakes in the project.

It is also developing special economic zones (SEZs) in areas, such as Nasik and Raigad.