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Housing, commercial property projects worth Rs 4,344 cr proposed in UP

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Lucknow, June 12 (Ajit Weekly News) As many as 19 big-ticket housing and commercial property projects worth Rs 4,344 crore have been proposed in Uttar Pradesh following the third ground breaking ceremony (GBC-3) held in Lucknow on June 3 to attract the industrial investments, an official statement said.

This does not include construction of structures for other sectors such as warehousing, logistics, IT, data centres, supporting infrastructure for industries such as power substations etc, hotels and hospitals, it said.

According to the statement, the sector-wise distribution of all the 1,406 proposals presented in GBC-3, presided over by Prime Minister Narendra Modi in the presence of top industrialists, shows that investors not only from India but from many parts of the world are keen to invest in UP.

The presence of M.A. Yusuf Ali, chairman of the Lulu Group International, at the GBC was significant as it indicated the presence of global retail industry giants in UP

Among the proposals presented in GBC-3, there are retail spaces, housing and group housing projects, cooperative housing projects and townships. It is a sign of the confidence of the real estate and construction sector in the state and its government policies that the sluggish trend has been reversed, the statement said.

A government spokesman said that prominent among the proposals is from One97 Communications (PayTM) which proposes to set up a commercial office space in Noida, Gautam Buddha Nagar, which would include ample retail space on ground floor. The proposed investment is to the tune of Rs 504 crore and it is expected to generate 8,000 employment opportunities. It is expected to be completed and commissioned by July 2024.

Among other housing and commercial property projects is the Aissphra Lifespaces (Palm Emporio) project in Gorakhpur with an investment of Rs 250 crore. The project is expected to commission in January 2025 and is likely to generate employment for 400 individuals.

A project by Amrawati Residency Private Ltd with an investment of Rs 225 crore in Lucknow has been operational since January 202, providing employment to 300 persons.

Also in Lucknow, there are three projects by ANS Developers Private Ltd. The first is named Valencia County with an investment amount of Rs 405 crore and it is expected to be commissioned by January 2025, providing 800 jobs.

The second is Belvedere Suites at a cost of Rs 400 crore and is likely to be commissioned by January 2025. It is expected to create 300 jobs.

The third, named Whispering Woods, coming up at a cost of Rs 325 crore, is likely to be commissioned by December 2025 with employment generation for 200 people.

Another project in Lucknow is from GK Orthocity Private Ltd, at an investment of Rs 250 crore. It is likely to be commissioned by December 2023 with 700 employment options.

The Pardos Lucknow Developers Private Ltd project with an investment of Rs 200 crore is likely to be commissioned by July 2022, giving 400 jobs.

The project by Ruvik BuildTech Private Ltd, with an investment of Rs 350 crore in Greater Noida, is expected to be completed by June 2022, creating 2,100 jobs.

The Uppal Chadha Hi-Tech Developers Private Ltd project with Rs 350 crore in Ghaziabad will be completed by March 2027, giving 300 jobs.

Other projects in the housing and commercial property sector are in Agra – Tripurari Infrastructure Private Ltd (Rs 112 crore), Ghaziabad – Adarsh Nagar Pragatisheel Sahkari Awas Samiti Ltd (Rs 180 crore), Agarwal Associated Promoters Ltd (Rs 125 crore), and Sarna Projects LLP (Rs 30 crore); Lucknow – Eldeco Housing and Industries Ltd (Rs 60 crore), MJ Luxuries Private Ltd (Rs 100 crore) and Shalimar Educational and Charitable Trust (Rs 80 crore.)

–Ajit Weekly News

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