Migsun, a real estate developer, has entered into a joint development agreement with Royal Golf Link City Projects to develop nine acre residential and retail space in Greater Noida, Uttar Pradesh, with an investment of Rs 250 crore.
The company will develop 138 villas and 2.5 lakh sqft retail space in Royal Golf’s gated township.
Migsun Group has acquired two land parcels of seven acre and two acre. It has entered into a revenue share agreement with the land owner.
The company has already sold inventory worth Rs 421 crore and are in talks to acquire more land in the same township. Located adjoining the Golf Course at Greater Noida, the villas, plots and retail shops are facing the Metro station.
The company will handover 4,000 apartments and commercial properties in six projects over the next one year. It is currently executing 16 projects, both residential and commercial, in various parts of Delhi-NCR.
The company has also acquired the stake of HDFC and Ansal in Ansal IT City Park (SEZ) Tech Zone, Greater Noida, where it will develop the 37.5 acre mixed-use project with commercial, IT, and industrial space.
The project will have 50 percent IT/ITeS offices, 15 percent industrial, and 15 percent commercial.