Commercial property

Commercial real estate projects: Housing, commercial real estate projects worth Rs 4,344 cr offered in UP

Up to 19 big-ticket real estate and commercial property projects worth Rs 4,344 crore have been proposed in Uttar Pradesh following the third Groundbreaking Ceremony (GBC-3) which took place is held in Lucknow on June 3 to attract industrial investment, according to an official statement.

This does not include the construction of structures for other sectors such as warehousing, logistics, IT, data centers, support infrastructure for industries such as electrical substations, etc., hotels and hospitals, he said.

According to the statement, the breakdown by sector of all 1,406 proposals presented at GBC-3, chaired by Prime Minister Narendra Modi in the presence of top industrialists, shows that investors not only from India but from many parts of the world are want to invest in UP.

The presence of MA Yusuf Ali, Chairman of Lulu Group International, at the GBC was significant as it indicated the presence of global retail industry giants at UP

Among the proposals presented in GBC-3, there are commercial spaces, housing and collective housing projects, cooperative housing projects and townships. It is a sign of the real estate and construction sector’s confidence in the state and its government policies that the lackluster trend has reversed, the statement said.

A government spokesperson said that one of the main proposals is that of

() proposing to set up a commercial office space in Noida, Gautam Buddha Nagar, which would include a large retail space on the ground floor. The proposed investment is in the range of Rs 504 crore and is expected to generate 8,000 job opportunities. It is expected to be completed and commissioned by July 2024.

Other housing and commercial property projects include the Aissphra Lifespaces (Palm Emporio) project in Gorakhpur with an investment of Rs 250 crore. The project should be commissioned in January 2025 and should generate jobs for 400 people.

A project by Amrawati Residency Private Ltd with an investment of Rs 225 crore in Lucknow has been operational since January 202, providing employment to 300 people.

Also in Lucknow, there are three projects of ANS Developers Private Ltd. The first is called Valencia County with an investment amount of Rs 405 crore and it is expected to be commissioned by January 2025, providing 800 jobs.

The second is Belvedere Suites costing Rs 400 crore and is expected to be commissioned by January 2025. It is expected to create 300 jobs.

The third, named Whispering Woods, costing Rs 325 crore, is expected to be commissioned by December 2025 with job creation for 200 people.

Another project in Lucknow is by GK Orthocity Private Ltd, with an investment of Rs 250 crore. It is expected to be commissioned by December 2023 with 700 employment opportunities.

The Pardos Lucknow Developers Private Ltd project with an investment of Rs 200 crore is expected to go live by July 2022 creating 400 jobs.

The project by Ruvik BuildTech Private Ltd, with an investment of Rs 350 crore in Greater Noida, is expected to be completed by June 2022, creating 2,100 jobs.

Uppal Chadha Hi-Tech Developers Private Ltd project with Rs 350 crore in Ghaziabad will be completed by March 2027 creating 300 jobs.

Other projects in the housing and commercial property sector are in Agra – Tripurari Infrastructure Private Ltd (Rs 112 crore), Ghaziabad – Adarsh ​​Nagar Pragatisheel Sahkari Awas Samiti Ltd (Rs 180 crore), Agarwal Associated Promoters Ltd (Rs 125 crore) and Sarna Projects LLP (Rs 30 crore); Lucknow-

(Rs 60 crore), MJ Luxuries Private Ltd (Rs 100 crore) and Shalimar Educational and Charitable Trust (Rs 80 crore.)