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Smartworld Developers Launches Major Noida Project
6 Dec
Summary
- Smartworld Developers invests ₹2,000 crore in Noida project.
- The mixed-use development includes residences, retail, and serviced homes.
- Company targets over ₹3,000 crore in revenue from this venture.
Smartworld Developers has announced a substantial ₹2,000 crore investment for its inaugural project in Noida, marking a significant expansion beyond its established Gurugram market. The company acquired a 6-acre land parcel for ₹414 crore to develop a mixed-use complex. This venture will include premium branded residences, high-street retail, and serviced homes.
This strategic move into Noida, a crucial micro-market within the Delhi-NCR region, is expected to yield over ₹3,000 crore in revenue. Smartworld Developers sees immense potential in Noida due to its rapidly developing infrastructure and growing prominence as a real estate hub.
Previously achieving ₹6,400 crore in sales bookings last fiscal year with 60% annual growth, Smartworld Developers is poised for further success. The company has already delivered 6.5 million sq ft in Gurugram, with an additional 20 million sq ft under construction.
