Realty firm AIPL gives on lease 70,000 sq ft office space to corporates in its project at South Delhi

New Delhi: Realty firm Advance India Project Ltd (AIPL) has provided on lease about 70,000 square feet of prime office space at its commercial project in South Delhi to corporates.

The project 'AIPL Legacy', located at Okhla, is a joint venture between AIPL Group and Shyam Spectra Pvt Ltd (SSPL). The total leasable area in this project is 88,522 square feet. SSPL owns the land while AIPL has invested about Rs 32 crore for the construction and development of the project.

AIPL said in a statement it has leased out office spaces to companies like Orient Electric, Atria Convergence Technologies (ACT), Dormakaba India Pvt Ltd and law firm Bharucha & Partners.

"The strategic location of the project in the heart of South Delhi, where there is a scarcity of Grade A+ office space, has resulted in strong demand,” said Ishaan Singh, Director, AIPL Group.

Gurugram-based AIPL has delivered 60 projects across various cities. It has so far delivered over 7 million square feet of office spaces, 3.7 million square feet of retail spaces and 320 acres of residential township development across Delhi-NCR, Punjab, and Rajasthan.