Get ready for the most expensive apartments to date in Noida as NCR-based real estate developer Bhutani Infra is planning to develop an uber-luxury housing project in the Delhi satellite city’s Sector 32. It will be a mixed land use project comprising a mall and around 60 expansive, opulent apartments.
Ashish Bhutani, CEO, Bhutani Infra, in an interview told Moneycontrol that the total estimated investment in the project is likely to be around Rs 600 crore. The cost of an apartment is likely to start from around Rs 12 crore, something unheard of in the Noida market.
“This will be a super-luxury project where very big size apartments will be offered. Only 60 apartments will be offered in the project and the size of flats will start from 5,000 square feet. The project is likely to be formally launched by the end of the year. The cost of flats will start from Rs 12 crore,” Bhutani said. He said that the cost may vary depending on the floor and size of the apartment.
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The project will come up near Logix City Centre mall in Noida’s Sector 32. The building will likely be 30 storeys tall, with the first four floors housing a mall and remaining constituting the residential component. Separate entry and exit will be provided for the housing complex and the mall, Bhutani said.
The luxury housing project is intended to be completed in 42 months’ time from the start of work on ground.
Bhutani Infra started operations in 1996 under the brand name Parmesh Complexes in Delhi’s Karkardooma. It has delivered close to 14 projects till date. Among its latest offerings, I-Thum IT Park in Sector 62, Noida, and Alphathum, a business park in Sector 90 are already operational.
Bhutani Infra is currently developing two commercial projects, Bhutani Cyberthum and Avenue 62 in Noida. Bhutani Cyberthum is likely to be delivered by June 2024.
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