Nimbus Group will invest about Rs 1,000 crore in a new luxury housing project, ‘Arista Luxe,’ in Sector-168, Noida.

The project, a co-development of a stalled 10-acre housing venture originally launched by Sunworld Residency in 2011-12, will feature 342 luxury apartments priced between Rs four to eight crore. The first phase, spread over six acres, has already delivered around 600 units. Now, four new towers will be built on a four-acre parcel. Of the total investment, Rs 500 crore is earmarked for construction.

Nimbus will also clear dues to the Noida Development Authority and pay Sunworld towards land costs. The project is launched at Rs 16,000-18,000 per sq. ft., targeting end-users, with sales planned gradually to match steady demand in Noida and Greater Noida. 

Nimbus Group, which has delivered about 8,000 homes in Noida, continues to develop multiple housing projects in the region. The co-developer policy by the Noida Authority is expected to help complete many such stalled projects.