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• Nirala World has announced plans to develop a premium shopping mall project, ‘Nirala Diadem’, in Greater Noida as part of its commercial real estate expansion strategy.
• The mall will be developed on a 2.5-acre land parcel, with a total planned investment of INR 525 crore.
• The developer has already invested INR 175 crore towards land acquisition, while INR 350 crore has been earmarked for construction activities.
• The project is scheduled for completion in the early part of 2030 and is aimed at addressing growing retail space demand in Greater Noida.
• The company currently has an existing portfolio of residential and commercial developments across Greater Noida and Greater Noida West.
Nirala World will invest around INR 525 crore to develop a premium shopping mall project in Greater Noida, expanding its commercial real estate portfolio amid rising demand for organised retail space in the region. The company announced the development plans earlier this week. Advertisement
The proposed project, named ‘Nirala Diadem’, will be constructed on a 2.5-acre land parcel in Greater Noida. According to the developer, the overall investment includes INR 175 crore already spent on land acquisition, while another INR 350 crore will be allocated towards construction and associated development works.
The company stated that the shopping mall project is expected to be completed in the early part of 2030. The development forms part of Nirala World’s broader expansion strategy in the National Capital Region’s residential and commercial property markets.
Suresh Garg, chairman and managing director of the company, indicated that Greater Noida has been witnessing sustained demand for organised retail infrastructure, driven by ongoing residential growth and increasing consumer activity in the micro-market. He said the company sees significant potential for premium retail developments in the region.
Greater Noida and Greater Noida West have witnessed substantial housing development over the past decade, leading to increased demand for supporting commercial and retail infrastructure. Developers in the region have increasingly been adding mixed-use and retail components alongside residential projects to cater to the growing resident population.
Founded in 1996, Nirala World has primarily focused on residential developments across the NCR market. The company said it has delivered more than 7,000 residential units since inception.
Among its completed projects is the 25-acre residential township ‘Nirala Estate’ in Greater Noida West, comprising nearly 4,000 housing units. The developer is also constructing around 400 units in another residential project within the region.
In addition to housing developments, the company is currently developing ‘Nirala Gateway’, a commercial project comprising retail spaces, office units and studio apartments. The addition of the ‘Nirala Diadem’ mall project is expected to further strengthen the developer’s commercial real estate presence in Greater Noida’s evolving urban corridor.
Source - PTI
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