Bayaweaver targets ₹1,000 cr for Noida realty project
Real estate player Bayaweaver will invest around ₹1,000 crore over a period of time to develop a commercial project in Sector 129 on Noida Expressway comprising 1.9 million sq ft of built-up area and 1.3 million sq ft of saleable space in Noida, where it is building retail space and hotel and service apartments. The company has already tied up with India Infoline Finance Ltd (IIFL) to fund this project, Bayaweaver CEO Himmat Singh said, adding that the construction work has been awarded to Australian firm Leighton. Bayaweaver, which is a realty arm of property brokerage firm BOP India, has roped in 'Radisson Red' to operate its hotel. In August 2014, BOP India bought 4.67 acres of land parcel from Jaypee Group for ₹390 crore. The project 'Oh my God' would have 3.25 lakh sq.ft of retail area, a 4-star hotel and 800 service/studio apartments , he said, adding that the project of shopping mall has been named as 'X-Noida'. The project has already been registered under the Uttar Pradesh regulatory authority set up under the realty law RERA and that the construction work is currently in full swing and it will delivered the project by August 2022 but the retail area would be operational by 2020, he claimed.
