Smartworld Developers Invests ₹2000 Crore in Noida's First Mixed-Use Realty Project
Realty firm Smartworld Developers is making a significant move by investing around ₹2000 crore to build its first project in Noida, a key micro-market in the Delhi-NCR region. This strategic expansion aims to strengthen the company's presence beyond the Gurugram property market.
Smartworld Developers has acquired a 6-acre land parcel in Sector 98 along the Noida Expressway through an auction process for ₹414 crore. The company plans to develop a mixed-use project that will include premium branded residences, high-street retail, and serviced homes.
The estimated revenue from this project is expected to exceed ₹3000 crore, making it a substantial addition to the company's portfolio. Ashish Jerath, President – Sales & Marketing at Smartworld Developers, emphasized the significance of this move: “Entry into Noida is a significant milestone for Smartworld Developers as we further strengthen our presence in the NCR region. Noida’s rapidly evolving infrastructure and its growing importance as a key real estate hub offer immense potential.”
The company is also in discussions with a leading global brand for a potential collaboration on the Noida project, which could further enhance its value and appeal.
Smartworld Developers has a strong track record, having clocked ₹6400 crore worth of sales bookings in the last fiscal year, marking a remarkable 60% annual growth. The company has delivered around 6.5 million square feet of space to date and has another 20 million square feet currently under construction.
According to data from real estate consultant PropTiger, housing sales across eight major cities fell to 95,547 units during the third quarter of this calendar year, down from 96,544 units in the corresponding period of the previous year. In the Delhi-NCR region, sales of residential properties decreased by 21% to 7,961 units from 10,098 units. Despite these challenges, Smartworld Developers remains optimistic about the potential of the Noida market.
Noida, with its robust infrastructure and strategic location, continues to attract significant real estate investments. The Noida Expressway, in particular, has become a key corridor for development, offering connectivity and convenience to residents and businesses alike. Smartworld Developers' entry into this market is a testament to the region's growing appeal and the company's commitment to delivering high-quality, mixed-use projects.
With this investment, Smartworld Developers is poised to contribute significantly to the real estate landscape of Noida, further cementing its position as a leading developer in the Delhi-NCR region.
