Blue Square launches ₹6-bn project in Noida

Real estate building major, Blue Square Infrastructure, has tied up with a local builder to develop a commercial project in Noida at an estimated construction cost of ₹6 billion. The project 'Spectrum Metro' will have 3.2 million sq.ft of saleable area, comprising 2.2 million sq.ft of high-street retail space. The mega project comprising twin multiplexes with 10 screens each, 4,00,000 sq.ft of office space and 800 service apartments would also be developed in 15-acre project, project head Sagar Saxena said, adding that the company is developing this project in Sector 75 Noida and is located near Metro station. For this project, he said the company has tied up with local developer Aims Max Gardenia that bought the land from Noida Authority and the company would have 60 per cent share in the sales revenue while Aims Max Gardenia would get the remaining 40 percent.