Migsun Group to complete stuck project in Greater Noida for Rs 700 crore

NCR-based Migsun Group has taken over a stuck project in Greater Noida called Hemisphere under the Project Management Consultancy model and will complete it at an estimated construction cost of Rs 700 crore.

"We have taken a stuck project, The Hemisphere, in Greater Noida under the PMC model from Royale Golf Link. We will get a consultancy fee for the completion of this project," Migsun group MD Yash Miglani said.

The project is spread over 100 acres. Migsun Group will develop 252 villas and 12 towers. The project that has over 400 units will also include luxury amenities.

“The Hemisphere takeover is a crucial step in our plan to provide homes to the buyers of the project. We acquired 11 projects since last year. We are working to complete the projects within the designated time limit and deliver them to the buyers immediately,” Miglani said.

The investment in the project will be made through internal accruals, he added.

The Group recently announced that it had achieved its target of completing sales of Rs 550 crore in Q3 FY21-22. They are aiming for another Rs 700 crore by the end of Q4 FY 21-22.

Migsun Group was set up in 1992 by industrialist Sunil Miglani. In its three decades of existence, the Group has delivered more than 40 projects in various parts of Delhi NCR.