Nirala World has acquired 2.6 acres of land in Greater Noida West for INR 180 crore to develop a commercial project, possibly a mall or high street. The project will begin once UPRERA approvals are obtained. The firm recently launched a luxury residential project, 'Nirala Trio,' and has already completed the 25-acre 'Nirala Estate' development, delivering 3,600 homes, with 450 more units to be handed over soon.
Nirala World, a prominent player in the real estate sector, has expanded its presence in Greater Noida with the acquisition of 2.6 acres of prime land. This parcel, purchased for INR 180 crore, is earmarked for a major commercial project. According to a company statement released earlier this week, the 10,600 square meters of land includes the cost of GST, lease rent, and stamp duty, making it a significant investment for the firm.
The newly acquired land is strategically located in the bustling Sector 10 of Greater Noida West, specifically at Plot No. C-6. The acquisition was part of a recent auction conducted by the Greater Noida Authority, in which Nirala World emerged as the successful bidder. This purchase adds to the company's growing portfolio of commercial and residential projects in the region.
Suresh Garg, the Chairman and Managing Director of Nirala World, shared that the acquisition came after a competitive auction process, underscoring the company's commitment to growth in the Greater Noida region. He revealed that the firm is planning to develop a commercial project on the newly purchased land, which could either be a mall or a high street retail space. The project aligns with the increasing demand for commercial hubs in the rapidly developing Greater Noida West area.
Garg also confirmed that the entire project will be self-financed by the company, a move that demonstrates Nirala World's financial strength and commitment to the project. The company is poised to commence construction as soon as it secures approvals from the Uttar Pradesh Real Estate Regulatory Authority (UPRERA) and other relevant bodies. These approvals are critical steps before breaking ground on the commercial development, and the firm is eager to start the project once the necessary green lights are obtained.
In addition to this new venture, Nirala World has recently launched 'Nirala Trio,' a luxury residential project located in Sector 2 of Greater Noida West. This premium development offers 400 residential units, with prices starting at approximately INR 11,000 per square foot, catering to the high-end segment of the market. The project highlights Nirala World's continued focus on delivering quality residential spaces, positioning it as a significant player in Greater Noida's real estate scene.
Nirala World has already made its mark with the 'Nirala Estate' project, a sprawling 25-acre residential development in Greater Noida West. The estate comprises 4,050 homes, out of which 3,600 units have been handed over to buyers. The remaining 450 units are nearing completion and will be delivered to homeowners soon. The successful handover of a majority of these homes is a testament to the company's ability to deliver on its promises and maintain its reputation for timely project completion.
With its latest land acquisition, commercial project plans, and ongoing residential developments, Nirala World is solidifying its position as a key player in the Greater Noida real estate market. The company's strategic moves reflect a strong commitment to both commercial and residential growth, catering to the evolving needs of businesses and homeowners in the region.Nirala World's continued investments in Greater Noida reflect its ambitious growth strategy and dedication to enhancing the region's real estate landscape. With the recent land acquisition for a commercial project and the successful launch of luxury residential developments like 'Nirala Trio,' the company is well-positioned to capitalize on the growing demand for both residential and commercial properties. Its strong focus on timely delivery further boosts its reputation in the competitive market.
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