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Group 108, a real-estate firm signed an MoU to invest Rs 2,000 crore in Noida

Noida– Group 108, a realty firm yesterday stated that they have proposed to do an investment worth of Rs 2,000 crore in order to develop more infrastructure and other projects in Greater Noida and Noida to expand more. Earlier, the company was a part of the Bhutani Group but now they have renamed themselves separately as Group 108. They are currently working on their latest project which is spread across 40 lac square feet named- ‘Grandthum’ a commercial project in Greater Noida (West).

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“We have signed a memorandum of understanding (MoU) at UP investment summit to invest Rs 2000 crore in the development of real estate projects,” Group 108 MD Amish Bhutani stated in the press. He further added that the company is now in talks with the landowners in order to buy more land for the development of commercial as well as residential projects in Greater Noida and Noida. According to the company statement, the current project has spread over 23 acres and will be ready for the public in 2024 March. This will be regarded as the total built area also known as the saleable area of 32 lakh square feet. Out of which, the company has already sold 

25 lakh square feet of space. “We have invested around Rs 400 crore on this project so far and another Rs 200 crore would be required for completion,” he said.

The company Bhutani stated that 9 lakh square feet would be used for retail and 23 lakh will be used for office space out of the total saleable area. They have already retained the leasing right for selling retail spaces. The demand for commercial as well as housing spaces is huge in India especially in Noida and Greater Noida, even attracting developers from South India in the Northern market. 

Priyadarshi Shastri

Priyadarshi Shastri, a seasoned writer with 5 years of experience, holds a degree in PR from Amity University. An authoritative voice in Entertainment, Lifestyle, and Trending News, his trustworthy insights captivate audiences worldwide.

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