Nirala World, the famous developer in the NCR region, recently acquired a giant land parcel in Greater Noida West. The company aims to develop a colossal commercial project on 2.6 acres valuing Rs. 180 crore.
The company is delighted to buy hefty land at this cost which includes GST, lease rent, and stamp duty.
In the statement released the company said, the payable amount includes GST, lease rent, and stamp duty. The land is positioned in Sector 10, Greater Noida West, and the acquisition of the same is done at an auction event by the Greater Noida Authority.
“We have recently acquired a land parcel in Greater Noida West through a tough action process. On the purchased land, we intend to build a commercial project (a mall or a high street), with a construction budget of roughly Rs.250-300 crore”, said Suresh Garg, CMD, Nirala World.
He further said, “We would start construction as soon as UPRERA and the authorities give their approvals”. The company funds will be brought in use for the upcoming commercial project development.
By far, the company has already delivered its Nirala Estate, a 25-acre project in Greater Noida West. It comprises over 4000 residential units out of which 3600 units are delivered and possession of the remaining 400 units will be rendered soon.
Earlier, a leading developer also announced the development of a gigantic commercial project alongside the Noida expressway. Realty firm Gaurs Group will invest about Rs.4,000 crore to develop a 17-acre commercial project in Noida as a part of its strategy to build rental assets, a top company official said.
Gaurs Group Chairman and Managing Director (CMD) Manoj Gaur said the company will develop 5 million (50 lakh) sq ft of commercial sphere in the upcoming Grade –A project.
