Realty firm SPJ True Realty will invest Rs 500 crore to develop a commercial project in Gurugram. The company will develop a commercial project 'Vedatam' in Sector 14, Gurugram. This is the company's first project, comprising 400 shops and 140 service apartments. The total investment would be around Rs 500 crore, SPJ True Realty said in a statement on Monday.

"We believe that locations like Sector 14, densely populated yet untapped in organised retail, hold immense potential," Pankaj Jain, Founder and CMD of SPJ Group, said. SPJ True Realty is part of SPJ Group, which is into hospitality, education, agriculture, and financial services businesses.