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Shree KB Realty has acquired a nearly 3-acre land parcel in Greater Noida West for Rs 122 crore to develop a large commercial project, reflecting growing confidence in the region's office and retail market. The land was secured through an auction conducted by the Greater Noida Authority and includes lease rent and stamp duty charges. The developer plans to construct a commercial development with a built-up area of around 8.5 lakh square feet, catering to rising demand driven by the completion of several residential projects in the surrounding areas. The acquisition underlines the increasing attractiveness of Greater Noida as a commercial destination, supported by improving infrastructure, a growing residential catchment and expanding business activity across the Delhi-NCR region.
Shree KB Realty has purchased a land parcel measuring nearly 3 acres in Greater Noida West for Rs 122 crore, marking a significant expansion of its commercial real estate portfolio. The acquisition was completed through an auction conducted by the Greater Noida Authority and includes lease rent and stamp duty charges. In total, the land measures about 12,000 square metres, or approximately 2.97 acres. Advertisement
The company plans to develop a commercial project on the site with a proposed built-up area of around 8.5 lakh square feet. The development is expected to cater to growing demand for office and commercial spaces in Greater Noida, particularly in areas that have seen rapid residential growth over the past few years. According to the developer, the completion of multiple housing projects in and around Greater Noida West has created a strong need for organised commercial infrastructure to support local businesses, services and employment.
Greater Noida has been steadily emerging as an important commercial and business hub within the Delhi-NCR region. Improved road connectivity, metro expansion and proximity to Noida and Delhi have enhanced the area's appeal for developers and occupiers alike. The availability of relatively large land parcels through transparent auction processes has further encouraged real estate firms to invest in large-scale commercial developments.
Shree KB Realty, which is part of the Noida-based Shree KB Group, was established in 2005 and has a track record of developing both residential and commercial projects across Delhi-NCR. Over the years, the company has delivered more than 5.5 lakh square feet of premium residential and commercial space, building a presence in key micro-markets of the region.
The latest land acquisition aligns with the company's strategy to capitalise on rising commercial demand in emerging urban clusters. With residential populations increasing and infrastructure improving, developers are increasingly focusing on mixed-use and commercial projects that can serve growing communities. The planned development in Greater Noida West is expected to contribute to the area's evolving commercial landscape while strengthening Shree KB Realty's footprint in the region.
Source - PTI
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