BENGALURU, Oct. 31 -- Mumbai-based Lodha Developers Ltd is entering the National Capital Region (NCR) with a Rs.1,600-1,700 crore commercial office project in Gurugram, marking its latest expansion beyond its traditional markets as developers from Mumbai and Bengaluru increasingly turn to the region.

The company, one of India's largest residential developers by sales, has launched Lodha Pantheon at Golf Course Road in Sector 28, Gurugram. It plans to sell the office spaces rather than retain the property for rental income, a senior executive said.

"Our first project in Gurugram has been launched a few days back. It's a predominantly office project that we are selling, and not holding for annuity income," Sushil Kumar Modi, executive dir...