3 days ago
Sobha Ltd enters Greater Noida, plans to invest ₹800 crore to develop the luxury project
Listed real estate developer Sobha Ltd, headquartered in Bengaluru, plans to invest approximately ₹ 800 crore in a luxury housing project in Greater Noida. The move is part of the company's strategy to expand its presence in the Delhi-NCR property market. Listed real estate developer Sobha Ltd, headquartered in Bengaluru, plans to invest approximately ₹ 800 crore in a luxury housing project in Greater Noida. (Representational Image) (In Photo: Impression of Sobha Aranya)(File Photo )
Sobha Ltd has announced the launch of a luxury residential project offering 420 housing units, including 1BHK units starting at ₹ 1.12 crore, 2BHKs priced at ₹ 1.92 crore, 3BHKs at ₹ 2.30 crore, and 4BHKs at ₹ 3.48 crore, according to a company statement.
The premium residences will come up across two towers in Sector 36, it said.
Sobha Ltd. acquired the land for this project through an auction for approximately ₹ 160 crore. While the company has not disclosed the total project cost, sources indicate that the investment for the development is expected to be around ₹ 800 crore.
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Sobha Aurum, a premium development by Sobha Ltd, will feature two towers soaring over 45 floors, offering 420 luxury residences. The project includes a mix of 1BHK to 4BHK homes, with select units featuring private terraces and corner balconies, designed for an elevated urban lifestyle, the statement said.
Spanning 3.46 acres with a total development potential of 9.3 lakh sq ft, Sobha Aurum has already received all necessary regulatory approvals for launch.
The company said over 2.5 acres of the project will be dedicated to open and recreational spaces with a 15,072 sq ft clubhouse. Outdoor amenities include a lap and leisure pool, a kids' play area, a multi-sport court, and an exhibition lawn.
The company already has a presence in the Delhi-NCR market. It has developed 'Sobha International City' on Dwarka Expressway, Gurugram. This is the first project in Greater Noida and the fifth project in Delhi-NCR.
"Entering Greater Noida marks a significant new chapter in Sobha's journey. As we step into this dynamic market, we are confident that our commitment to excellence will set a new benchmark in luxury living for the region,' said Jagadish Nangineni, managing director, Sobha Limited.
