05-08-2025
Nimbus Group to invest ₹1,100 crore to revive housing project in Noida
NEW DELHI:
Nimbus Group
will invest ₹1,100 crore to develop
Arista Luxe Phase II
, a residential project located in Sector 168,
Noida
. The 10-acre project, which had earlier been stalled, is being revived under the Legacy Stalled Projects Scheme with formal approvals from the New Okhla Industrial Development Authority (NOIDA).
The development is being undertaken through a joint development agreement (JDA), with Nimbus stepping in as co-developer.
Arista Luxe Phase II will include 342 apartments spread across Towers 5, 7, 8, and 9, along with the completion of the clubhouse and common areas.
The project is expected to be completed by 2029 and is being funded through a mix of bank finance, internal accruals, and institutional lenders.
The group had previously delivered
The Golden Palms
in the same sector and has also completed projects such as
Express Park View I
& II in Greater Noida and The Hyde Park in Sector 78, Noida.
