Real estate company Nirala World has bought 2.5 acres of land in Greater Noida, where it will develop a commercial project of 8 lakh sq ft to meet the growing demand for office and retail space. Nirala World said in a statement that the company has bought this land from Greater Noida Industrial Development Authority (GNIDA) through auction. The company has bought a portion of 10,400 square meters (2.5 acres) commercial land for Rs 175 crore.
Suresh Garg, chairman and managing director of Nirala World, said, “We have recently bought a piece of ground through the auction process in Greater Noida West.” He said that the company will develop its second commercial project in Greater Noida.
Retail Space, High Street, Food Court, Multiplex Project included
Garg said that this project will have retail space, high street, food court, multiplex and office space. The total development sector of this project will be 7.87 lakh sq ft. In October last year, Nirala World bought 2.6 acres of land in Sector 10 of Greater Noida West to develop its first commercial project. Nirala World said that the company will continue searching for pieces of land in Delhi-NCR. The company will also enter the commercial and housing market of Gurugram to increase its reach.
Nirala World is already developing a luxury residential project ‘Nirala Triao’ in Sector 2 of Greater Noida West. There are 400 units in this project, out of which 40 percent units have already been sold. Nirala World has also developed a 25 -acre project ‘Nirala Estate’ in Greater Noida West, with 4,050 houses, out of which 3,600 units have been handed over to buyers and 450 units will be assigned soon in the final stages.