Arihant Group to invest 250 crore for developing housing project in Noida – Greater Noida

Greater Noida (9/4/2019) : Arihant Group a retail firm will be investing Rs 250 crore in Noida and Greater Noida to develop an affordable housing project comprising 944 flats. For this firm has launched the sale of flats in the project ‘Arihant Adobe’ in Greater Noida West (popularly known as Noida Extension) in a price range of Rs 30-35 lakh.

The entire investment would be met through internal accruals and customer advances said Arihant Group, MD Kaushal Jain. “Noida/Greater Noida is primarily an end user driven property market and the migrant population here is increasing rapidly. So, housing demand and sales in Noida and Greater have always been good,” he said.

The project, though in affordable category, would be built with best of construction technology, Jain said. The first phase of the project is expected to be ready and delivered by April 2022 while the entire project may be complete by November 2024.

Jain said eligible home buyers would get an interested subsidy of up to Rs 2.67 lakh as this project is being developed as per the area and other norms under affordable housing scheme of the central government. The GST rate will be one per cent.