SVP Builders to invest Rs 450 cr
Ghaziabad-based company expected to earn a revenue of Rs 475 crore from the residential complex and Rs 160 crore from the commercial project.
By PTI |
NEW DELHI: Real estate company, SVP Builders India Ltd is planning to invest about Rs 450 crore over next three years to develop residential and commercial projects at Ghaziabad, Uttar Pradesh.
"We are launching today two projects-- one residential and one commercial- at Ghaziabad. The project cost of both these projects will be about Rs 450 crore, including the land cost," SVP Group CEO Sunil Jindal told reporters here.
Ghaziabad-based company expected to earn a revenue of Rs 475 crore from the residential complex and Rs 160 crore from the commercial project, he said.
The residential complex- Gulmohar Greens- spreading over 23 acres at Mohan Nagar, Ghaziabad would offer around 1,200 flats, 140 villas apartments and 90 penthouses.
While cost of flats starts from Rs 30 lakh, villas would be sold for Rs 46 lakhs and penthouses at Rs 80 lakh.
The project cost of the residential complex, which is expected to get completed in next three years, is about Rs 350 crore that includes the land cost of Rs 110 crore.
The commercial complex-- Opulent-- would be developed over two lakh square feet area at an investment of Rs 100 crore and is expected to be operational in next 20-24 months.
Of two lakh sq ft of commercial space, 1.45 lakh sq ft comprises retail, while 30,000 sq ft is marked for multiplex, and 25,000 sq ft for food court.
"PVR has already signed an agreement with us for setting up screens," Jindal said.
On USP of the projects, he said: "The location of both these projects is the main attraction. While the residential complex is facing 450 acres of green belt, the commercial project is located in the heart of Ghaziabad."
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