Property 26/10/2023 0 Comments

CRC group to launch three projects in Noida with an expected top line of Rs 3500 crore

CRC group to launch three projects in Noida with an expected top line of Rs 3500 crore

At present, the CRC Group is undertaking construction of projects spread over a total of 72 lakh square feet area. The company has also collaborated with Jaypee to construct a high-end ultra-luxury residential complex with a golf course view, the firm said.

Elevation picture of CRC The Flagship

NCR-based real estate developer CRC Group will develop a Grade-A IT/ITES integrated premium commercial project called ‘The Flagship’ along the Noida-Greater Noida Expressway, with an investment of approximately Rs 750-Rs 800 crore. The company expects a top line of around Rs 1200 crore from this venture. The realty firm also plans to undertake the development of two luxury housing projects, with a targeted cumulative revenue of Rs 2300 crore.

CRC Group Founder and CEO, Kunal Bhalla, stated that the project will span across 11 acres in Uttar Pradesh’s Noida sector 140A along the Noida-Greater Noida Expressway and will encompass a total built-up area of approximately 24 lakh square feet.

Out of this 24 lakh square feet of development, the company will allocate 12 lakh square feet for office space, four lakh square feet for retail space, and 102 service apartments. Bhalla mentioned, “We will sell the office space, while the retail space will be leased. The project will also feature a high-street retail market area, and the investments will be funded through internal accruals. The project is slated for completion by April 2027.”

Currently, the CRC Group is engaged in the construction of projects covering a total area of 72 lakh square feet. The company has also partnered with Jaypee to construct an upscale ultra-luxury residential complex with a golf course view. The expected revenue from this luxury project, situated in Jaypee Wishtown in sector 128, is estimated to be around Rs 1500 crore.

Likewise, the CRC Group will also be launching the second phase of its previously delivered housing project, CRC Sublimis, in sector 1 Greater Noida West. This too will be a luxury project, with an expected revenue of approximately Rs 800 crore.

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