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Realty firm Nirala World has announced an investment of around INR 80 crore to develop a premium commercial project, Nirala 154, along the Noida Greater Noida Expressway. Spread across 1.1 acres, the project will have a total leasable area of about 2 lakh square feet and is being developed on a pure leasing model to generate steady long-term rental income. The company expects the project to be completed by January 2028 and, once operational, to generate monthly lease rentals of approximately INR 1.5-2 crore. The development marks Nirala World's second commercial project in the Noida Greater Noida region and aligns with its strategy of strengthening its presence in income-generating commercial real estate alongside residential developments in Delhi-NCR.
Nirala World announced earlier this week that it will invest approximately INR 80 crore to develop a premium commercial project in Noida, thereby strengthening its footprint in the Delhi-NCR commercial real estate market. Advertisement
In a statement, the company said the project, branded as Nirala 154, will be developed along the Noida Greater Noida Expressway. The development will span 1.1 acres and offer a total leasable area of about 2 lakh square feet.
The company said the total development cost of the project is estimated at INR 80 crore, with construction scheduled for completion by January 2028. The project is being developed on a pure leasing model, aimed at generating stable and recurring rental income.
Suresh Garg, Chairman and Managing Director of Nirala World, said this would be the company's second commercial project in the Noida Greater Noida region. He added that the leasing-led approach ensures long-term value creation for both the company and its stakeholders.
Once operational, the project is expected to generate lease rentals of around INR 1.5-2 crore per month, the company said.
Nirala World has developed several projects in the Delhi-NCR region, including the 25-acre residential project Nirala Estate in Greater Noida West, comprising 4,050 housing units. The company is currently engaged in developing both residential and commercial projects across the region.
Source - PTI
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