County Group to invest Rs 5,000 crore in next 5 years on luxury housing project in Noida

Delhi NCR-based County Group will invest Rs 5,000 crore over a period of five years to build ultra-luxury housing project Ivory County in Noida, the company said.

Located in Noida's Sector 115, near the Faridabad-Noida-Ghaziabad (FNG) Expressway, the project has a revenue potential of Rs 7,500 crore approximately, top company executives said.

Amit Modi, Director, County Group said that Ivory County will have a total of 2,372 units on offer and will be developed in three phases in next five years.

“The entire project will spread across 28 acres and will be divided in luxury and ultra-luxury dwelling areas known as ‘Ivory County’ and ‘Ivory County Gold’. In the first phase 1,500 units are being offered, which has already been sold out. The group will be investing nearly Rs 5,000 crore in next five years via self-funding and bank financing with an expected sales realisation of Rs 7,500 crore approximately,” he said in a press conference.