Realty firm Mahagun Group will invest over Rs 600 crore in the next four years to develop a commercial project in Greater Noida West near here, a company official said.
It will develop around 12 lakh square feet of a commercial area comprising hotel, multiplex and retail and office spaces.
The new commercial project named Mahagun Marina Wwalk would be developed with an investment of over Rs 600 crore, said Mahagun Group Director Amit Jain.
The project will be developed on an area of 18,694 sq meters and will have a built-up area of 11.6 lakh sqft. The company plans to sell about 4.3 lakh sqft area and retain the rest.
“With the growing residential population in Greater Noida West (UP), the need for retail and shopping is ever increasing. Hence, we felt this is the right time to launch a project like Marina Wwalk. By the time the project is ready, the region’s population would be double or even more,” Jain said.
Greater Noida West is turning into a hub for residential and commercial developments with improved metro rail and road infrastructure, he added.
Mahagun plans to bring 14 screens superplex and over 250 keys hotel in this project. It will develop 1.15 lakh sqft of office space as well.
The Group has completed and is developing many housing and commercial projects in Noida, Greater Noida-West and Ghaziabad. It has an operational shopping mall- Mahagun Metro Mall- at Vaishali, Ghaziabad.
Source: The Times of India, Delhi/NCR