CRC Group to invest Rs 810 crore to develop commercial project in Noida
CRC Group to invest Rs 810 crore to develop commercial project in Noida
The company to invest the amount in constructing an integrated IT/ITES commercial project in Noida. The project will spread across an area of 22 lakh sq ft of built-up area
Noida-based real estate developer CRC Group on February 6 announced that it will invest Rs 810 crore to develop a commercial project in the city.
The company, through its Special Purpose Vehicle, IT Infrastructure Park Pvt Ltd, would invest the amount in constructing an international-level integrated IT/ITES commercial project in Noida, spread across an area of 22 lakh sq ft of built-up area.
The Noida-based firm has already signed a memorandum of understanding (MoU) with the Uttar Pradesh government under the Invest UP programme for the project, which has the potential to generate employment for 9,000 people.
“We have acquired 11.16 acres of land in Sector 140 A, Noida to develop a Grade-A integrated IT/ITeS commerical project,” the company’s founder and CEO Kunal Bhalla told reporters.
CRC Group will construct 12 lakh square feet of office space, 3 lakh square feet of retail area and one lakh square feet (102 units) of service apartments in the project. The company would sell around 30 percent of the project and lease the remaining portion.
