NCR-based real estate developer Migsun Group bought land from Medanta in Lucknow where it will launch a mixed-use project at an investment of Rs 426 crore, the company said.
The mixed-land use project 'Migsun Lucknow Central' will feature high street retail spaces, food court and studio apartments. The project has also received RERA approval, it said.
Spread across approximately 20,239 square meters of land, Migsun Lucknow Central is located at Shaheed Path in Lucknow. The company said that each unit in the project is priced at approximately Rs 49 Lakh and around 500 units have been launched in the first phase of the project.
“This is our second commercial project in Lucknow. Our first project, Migsun Janpath has been hugely successful and emerged as the city’s landmark. Besides, our sales performance so far has also been good and the prices have appreciated almost two-fold. We hope to repeat this performance again with Migsun Central,” said Yash Miglani, Managing Director Migsun Group.
Also Read: Migsun Group to invest Rs 706 crore in high street commercial project in Delhi's Rohini
Migsun Lucknow Central will be funded through internal accruals as well as customer advances and will be executed in multiple phases over a timeline of 36 months. The first phase will be handed over to the buyers in 2027, the realty firm said.
Migsun Group has executed over 40 projects in Delhi-NCR.
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