Delhi-NCR-based company Nirala World has acquired a 2.6 acre land parcel in Greater Noida for Rs 180 crore.
Located in Sector-10, in Greater Noida West, the land was recently acquired through an auction by the Greater Noida Authority.
On the purchased land, it intends to build a commercial project, likely to be in the mall or a high street format, with a construction budget of around Rs 250-300 crore. The project will be developed by the company using its funds. Construction would start as soon as UPRERA and the authorities grant approvals.
The company has already developed a 25-acre project 'Nirala Estate' in Greater Noida West. Of the 4,050 homes, possession of 3,600 units has been given to the buyer and 450 units are to be delivered soon.