Experion Developers, backed by Experion Holdings of Singapore, is set to invest INR 4,700 Crore in FY24 to construct premium residences in Noida and Gurugram. The company anticipates a cumulative revenue of INR 6,500 Crore from three projects spanning 4.1 Million-SqFt in these two cities bordering the national capital.
In Noida’s Sector 45, the company plans to allocate INR 1,400 Crore for the luxury housing project. In Gurugram, investments of INR 1,800 Crore are earmarked for the Sector 48 project, while the Golf Course Road Sector 42 project will receive INR 1,500 Crore.
To secure the necessary land, the realty company successfully acquired 5 acres in Noida and two plots totaling 9.5 acres in Gurugram through auctions.
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BK Malagi, COO of Experion Developers, disclosed that the company acquired the Noida land for approximately INR 300 Crore, intending to develop a premium luxury housing project covering 1.3 Million-SqFt. With an estimated investment of around INR 1,400 Crore, the project will have 300 premium luxury apartments. The project is scheduled for launch in either December 2023 or January 2024.
Malagi further indicated that the Gurugram projects will commence next year. The company’s plans involve constructing an uber-luxury housing project spanning 1.8 Million-SqFt in Sector 48 Subhash Chowk and a boutique luxury residential project of 1 Million-SqFt on Golf Course Road.
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