Noida: Maasters Infra Group, instituted by seasoned professionals and under the patronage of five-decade-old infra company K. R. A. Engineers & Contractors, announced their first commercial project Maasters Capitol Avenue spread over 5 acres in Sector 62, Noida. To be developed in a single–phase, the project will have office space and retail; the project’s total area would be 10,00,000 sq ft to be completed in 42 to 45 months with an investment of around Rs 250 crore.
The company informed that the investment would be through internal accrual, and the total sales realization from the project is between Rs 600 crore to Rs 750 crore.
The upcoming infrastructural developments in Noida are expected to stimulate the real estate market even further. Multi-level parking lots in Sector 3 and Sector 16A Filmcity, Shaheed Bhagat Singh Park, Biodiversity Park, a shooting range, and an indoor stadium in Sector 21A are among the infrastructure projects set to be completed this year. “The focus of the Uttar Pradesh Government is on making Noida the biggest IT & Manufacturing hub in Northern India. The infrastructural development attests to the plans; work on the airport, Film City, and DMRC corridor will further improve the commercial real estate viability in Noida. The city enjoys good infrastructure and connectivity and is becoming the favorite of the corporate world due to the availability of low rentals compared to other neighboring cities,” says Nikhil Anand, Director, Maasters Infra Group.
The units in the project are priced between Rs 30 lakh to Rs 2 crore. The project’s unique design with big Corridors gels well with the idea of a world-class commercial unit people are looking for. The environment friendly project will also have high street retail and other facilities like food court, roof top club, gymnasium and conventional centre.
“In 2021, Delhi-NCR commercial market is predicted to grow by 15-20 per cent, with the majority of activity occurring in the second half of the year. Demand is projected to be driven by technology, consulting, and manufacturing occupiers. Noida is scoring well on commercial parameters, as various reports have pointed out that the city is likely to finish over half of the supply pipeline,” says Manpreet Singh Wason, Director, Maasters Infra Group.
Due to its growth possibilities and guaranteed economic returns, commercial real estate will continue to be the preferred choice of investors. The Group informed that it is also coming up with a residential project and one IT project. “Following the initial shocks in April and May, economic activity across sectors began to build up in June 2021, owing to declining infections and modest relaxations in lockdowns, both of which are critical for boosting employment and income stability. The fact that people have begun to look at real estate to stabilise their financial condition is a source of optimism,” says Gurcharan Singh, Director, Maasters Infra Group.