Shree KB Realty Acquires 3-Acre Land in Greater Noida for Rs 122 Crore

Shree KB Realty, a well-established real estate firm, has made a significant acquisition by purchasing a 3-acre plot in Greater Noida for Rs 122 crore. The land was acquired through a competitive auction process conducted by the Greater Noida Authority. The company plans to develop a commercial project on the newly acquired land, which is expected to add value to the growing real estate market in the region.

In a statement released on Thursday, the company confirmed that it has acquired a land parcel of 12,000 square metres (2.97 acres) for Rs 122 crore, inclusive of lease rent and stamp duty charges. The land is strategically located in Greater Noida West, an area that has seen substantial development in recent years.

Rakesh Singhal, the founder of Shree KB Group, expressed his enthusiasm about the acquisition. He stated, “On the purchased land, we intend to build a commercial project with a built-up area of 8.5 lakh square feet.” This ambitious project aligns with the company’s strategic vision to capitalize on the robust demand for commercial spaces in Greater Noida.

The demand for commercial spaces in Greater Noida has been on the rise due to the completion of numerous housing projects in the area. This trend has attracted both local and international businesses, making it an attractive location for commercial development. The completion of these housing projects has not only increased the population but also created a need for more office spaces, retail outlets, and other commercial facilities.

Shree KB Realty, established in 2005, has a strong presence in the Delhi-NCR region. The company has a track record of delivering high-quality residential and commercial projects. Over the years, Shree KB Realty has successfully developed and delivered over 5.5 lakh square feet of premium residential and commercial space. This latest acquisition is a testament to the company’s commitment to expanding its portfolio and contributing to the growth of the real estate sector in Greater Noida.

The Greater Noida Authority has been proactive in promoting development in the region by conducting auctions for land parcels. These auctions have attracted several prominent real estate developers, including Shree KB Realty, who see the potential for significant returns on their investments. The development of commercial projects in Greater Noida is expected to boost the local economy and create numerous job opportunities.

As the region continues to grow, Shree KB Realty’s new commercial project is likely to become a landmark in Greater Noida, attracting businesses and enhancing the area’s commercial landscape. The company’s focus on quality and sustainability is expected to set a new standard for commercial developments in the region.

With this acquisition, Shree KB Realty is well-positioned to capitalize on the growing commercial real estate market in Greater Noida. The company’s strategic approach and commitment to excellence are expected to ensure the success of the project and further solidify its reputation in the industry.