Experion Developers will invest about Rs 1,500 crore to develop a luxury housing project in Noida, Uttar Pradesh to fuel its expansion plans. The Gurugram-based firm has registered its new project 'Experion Elements' with Real Estate Regulatory Authority (RERA), for launch.

The company, a wholly-owned subsidiary of Experion Holdings, Singapore, will develop around 320 housing units in this 4.7-acre project. In the first phase, around 160 units are being launched for sale.

The company had bought this land from the state government through auction process, and the total developable area in this entire project would be over 10 lakh sq. ft. The cost will be met through internal accruals and collection from customers. Noida is a key real estate market in Delhi-NCR, and the starting price in this project is nearly Rs five crore for a three-BHK apartment. Also, the project will have modern charging infrastructure for electric vehicles.

Experion Developers is developing township, housing and commercial projects in Gurugram, Amritsar, Lucknow, and Noida. Housing sales in Delhi-NCR jumped more than two-fold to 10,060 units during January-March 2024.