Maasters group to invest Rs 250 crore in developing one million sq ft in Noida

Maasters Infra Group will invest Rs 250 crore in developing one million sq ft of commercial and retail space in Sector 62, Noida. Spread in 5-acre, the project will be completed in 42 to 45 months.

“The focus of the Uttar Pradesh Government is on making Noida the biggest IT & Manufacturing hub in Northern India. The city enjoys good infrastructure and connectivity and is becoming the favorite of the corporate world due to the availability of low rentals compared to other neighboring cities,” said Nikhil Anand, Director, Maasters Infra Group.

The upcoming infrastructural developments in Noida are expected to stimulate the real estate market even further. Multi-level parking lots in Sector 3 and Sector 16A Filmcity, Shaheed Bhagat Singh Park, Biodiversity Park, a shooting range, and an indoor stadium in Sector 21A are among the infrastructure projects set to be completed this year.

“In 2021, Delhi-NCR commercial market is predicted to grow by 15-20 per cent, with the majority of activity occurring in the second half of the year. Demand is projected to be driven by technology, consulting, and manufacturing occupiers. Noida is scoring well on commercial parameters, as various reports have pointed out that the city is likely to finish over half of the supply pipeline,” said Manpreet Singh Wason, Director, Maasters Infra Group.

The units in the project are priced between Rs 30 lakh to Rs 2 crore. The environment friendly project will also have high street retail and other facilities like food court, roof top club, gymnasium and conventional centre.

“Following the initial shocks in April and May, economic activity across sectors began to build up in June 2021, owing to declining infections and modest relaxations in lockdowns, both of which are critical for boosting employment and income stability. The fact that people have begun to look at real estate to stabilise their financial condition is a source of optimism,” said Gurcharan Singh, Director, Maasters Infra Group.

Due to its growth possibilities and guaranteed economic returns, commercial real estate will continue to be the preferred choice of investors. The Group is also coming up with a residential project and one IT project.