Noida-based real estate developer CRC Group will invest Rs 525 crore to develop an ultra-luxury residential project named ‘CRC Maesta’ with projected sales revenue of Rs 800 crore.
CRC Group has collaborated with Padma Shri awarded architect Hafeez Contractor for the designing of the project, which is located in Sector 1, Greater Noida West.
Kunal Bhalla, founder and CEO of CRC Group, said that the project will offer 3 and 4 BHK ultra-luxury residences in different sizes such as 1,750 square feet (sqft), 2,675 sqft and 2,700 sqft etc.
“The project spreads across approximately 3.65 acres and the development includes 358 units. The project will have 1 million sqft of built up area whereas the saleable area will be 7.28 million sqft. We will have only two flats per floor in the project,” Bhalla said.
Bhalla added that Rs 525-crore investment includes the land cost and the investment will be largely made through internal accruals. The company expects a topline of Rs 800 crore from the project, he said.
Salil Kumar, Director - Marketing & Business Management, CRC Group, said that with this project the CRC Group have entered the ultra- luxury segment.
The project is located a few minutes away from Noida’s key sectors 78 and 79 and is close to the proposed metro station. CRC has successfully delivered projects in Greater Noida in Uttar Pradesh and Haridwar in Uttarakhand while the company’s mixed-use project is underway in Noida.
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