A major investment plan has emerged in the real estate sector in Noida. Great Value Realty has decided to launch a luxury residential project in Sector 107 of Noida, costing approximately ₹1,600 crore. The project will be developed on approximately 20 acres of land.
This new project will consist of three 46-floor towers, housing approximately 250 units. These units will include 3 BHK and 4 BHK flats, ranging in size from approximately 3,525 to 5,525 square feet. The starting price of the flats is ₹7 crore.
The project’s approval process also faced challenges. The Great Value Sharanam Apartment Owners Association objected to the additional FAR (Floor Area Ratio) requirement. The matter subsequently went to the High Court, which ordered a decision after hearing all parties.
Great Value Realty stated that the state’s Industrial Development Department determined that all necessary regulatory and legal steps were properly taken. The company stated that the project includes land costs, permitting costs, and construction costs, and the total investment is ₹1,600 crore.
The company expects this project to generate revenues of around ₹3,000 crore. Great Value says that demand for luxury real estate is growing in Noida, and this project reflects that growing trend.
The new project is named “Ekanam .” It includes features such as two sky bridges, sky gardens, and floating terraces. The complex will include a 100,000-square-foot clubhouse, which will include an indoor pool, spa, gym, yoga studio, business center, art and music rooms, a theater, and other amenities.
Environmental sustainability has also been considered. The project is designed to meet IGBC Green Building Certification standards and features water conservation systems, vertical greenery, and natural ventilation.
Great Value Realty said that this is one of the last large plots available in Noida Sector 107, and through this project they want to enhance both the skyline and residential long-term value of the area.
Author: indiapropmart
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