New Delhi, Aug. 26 -- Indiabulls Limited has signed an agreement with a private owner under which it will be developing a residential project in Gurugram which is spread across 10.84 acres and is located on the Dwarka Expressway, CNBCTV18 reported on Wednesday.

The project has saleable area of around 21 lakh square feet while the Gross Development Value (GDV) stands at around Rs.3,700 crore. Phase 1 as well as Phase 3 of the project have been registered under RERA, while the expected launch date is in the middle of October this year.

The project's start date comes ahead of the festive season, a time when residential demand increases, a factor the company expects to tap into once registrations for sale open.

Its location along the Dwark...