real estate news

CRC Group to Invest ₹525 Crore in Ultra-Luxury Housing Project in Greater Noida

2024-11-06 · GeoSquare

CRC Group, a prominent real estate developer based in Noida, has announced a major investment of ₹525 crore to develop an ultra-luxury residential project in Greater Noida. The project, named CRC Maesta, will be spread across 4 acres of prime land in sector 1 of Greater Noida West, also known as Noida Extension.

According to Kunal Bhalla, founder and CEO of CRC Group, the total investment includes the cost of the land. The company plans to finance the project primarily through internal accruals. The groundbreaking ceremony for CRC Maesta is scheduled for November 9, and the project is expected to be completed within 42 months.

CRC Maesta will consist of 358 premium units, distributed across five towers of 29, 30, and 32 floors. The project will feature 3 and 4 BHK residences, ranging in size from 1,720 sq ft to 2,650 sq ft. The starting price for these luxurious apartments is ₹2.25 crore. Salil Kumar, Director of Marketing and Business Management at CRC Group, emphasized that this project marks a significant step for the company as it enters the ultra-luxury segment.

The project is strategically located, offering excellent connectivity to key sectors 78 and 79 in Noida and being close to the proposed metro station. This makes CRC Maesta an attractive option for those looking for a luxurious living experience with easy access to commercial and social hubs.

CRC Group has a strong track record in the real estate sector. The company has successfully completed two housing projects in Haridwar and Greater Noida West, comprising over 1,100 units. Currently, two more projects are under construction. For CRC Maesta, CRC Group has collaborated with renowned architect Hafeez Contractor, ensuring that the project will set new standards in luxury living.

This investment by CRC Group is part of a broader trend in the real estate market, where developers are increasingly focusing on high-end, luxury apartments to cater to the growing demand from affluent buyers. The project is expected to further enhance the appeal of Greater Noida as a prime residential and commercial destination.