Lohia Worldspace to invest Rs 200 cr in first housing project at Moradabad
Lohia Worldspace
will invest about Rs 200 crore to develop a 10-acre housing project in Moradabad, Uttar Pradesh, marking its entry into real estate business.
This will be the company's first real estate project, comprising 175 luxury villas.
Lohia Worldspace is the real estate arm of the diversified Delhi-based
Lohia Global
, a privately held company with an annual revenue of around Rs 1,200 crore.
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Established in 1979, the Group has four businesses - handicraft exports, electric vehicles, tiles and solar energy. Now, it has entered into real estate business to monetise its land bank of around 200 acres across various cities in North India.
"Our vision with Lohia Worldspace is to create homes that are modern, meaningful, and rooted in thoughtful design," said Pyush Lohia, Director, Lohia Worldspace. The project cost is estimated at Rs 200 crore and expected to be delivered by 2029.
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Pyush said there is a huge demand for premium homes in Moradabad market.
Last year, Lohia Global announced its entry into real estate and said it would invest Rs 1,000 crore over the next five years to develop
real estate projects
across India.
These projects will primarily be located on premium land parcels already owned by the group.
"Moradabad isn't just where we begin. It's where our roots are. We are proud to invest in the city's future by offering something that uplifts its people, infrastructure, and aspirations," said Pyush.
He said the company would launch more projects in Moradabad in coming years and also enter Delhi property market.
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