A leading hypermarket retail chain, Dmart has acquired the project's lower ground and first floors to set up a hypermarket store.
In Phase 1, the Group will develop 1 mn sq ft of high street retail space. In Phase 2, if the company is able to buy additional FAR, another 1 mn sq ft will be developed in the form of business suites
The violations pertain to residential units in the Migsun Ultimo project in Gautam Buddh Nagar, and a commercial unit in the Migsun Migenet project in Ghaziabad.
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 total gross revenue for Migsun Group from the project will be around Rs 250 crore.
In a regulatory filing, real estate firm Ansal Properties & Infrastructure Ltd has said that it has agreed to sell its entire 66.24 percent stake in IT SEZ in Greater Noida to Migsun Group.
The deal is subject to the approval of regulatory authorities of SEZ, Greater Noida Industrial Development Authority, and the Ministry of Commerce.
The total built-up area in this project is 3 million sq ft.