Mahagun group to invest Rs 1,800 crore in luxury housing project in Noida

Representative image

The NCR-based real estate developer Mahagun group has launched Phase-1 of its luxury housing project Mahagun Medalleo in Sector 107 of Noida. It  will invest Rs 1,800 crore in the project.

According to a statement issued by the developer, the project is spread over an area of 40,000 square metres and the deadline for completion is 2027.

The project is located near the Noida Expressway and is connected to areas like NH-24, the IGI Airport, and south Delhi, among others. The project is also connected to the Metro via the  Sector 101 metro station.

Most of the projects of the Mahagun group are located in Noida and Greater Noida.

“The project has been financed by corporate trustee Vistra TCL (India) Ltd. The total project investment cost is of approximately Rs 1,800 crore. The project will be fully delivered by 2027,” the statement said.

“The Mahagun Medalleo project will comprise separate towers of 3 and 4 BHK condominiums. Every condominium will have luxury bedrooms along with living, dining, or family lounge rooms as per plan, with large balconies, modular kitchens and servant quarters. The project will have a 50,000 square feet club house which will include a gym, wellness centre, an all-weather pool, and indoor games spread over five levels,” the statement said.

Other project amenities include a jogging trail, among the dense forest with pavilion for yoga and meditation zone, kid’s play area, swimming pool, with hydrotherapy, celebration garden, a sports zone, among others.

Amit Jain, Director, Mahagun Group, said the project will redefine the luxury living in India and provide buyers with a range of high-tech, automated facilities features.

“We are proud to share that our new project has received an overwhelming response from customers, because of its location and connectivity. We are elated that our customers have shown trust in every project of Mahagun  M-Collection,” Jain said in the statement.

Mahagun Medalleo will be a new addition to Mahagun’s M-collection — a term coined to denote their luxury and uber-luxury projects.