Paras Buildtech plans ₹450-cr commercial project in Noida
The Delhi-based real estate developer Paras Buildtech has decided to build 2.7 lakh sq ft of retail and 1.5 lakh sq ft of office space at an investment of ₹450 crore in Noida. The company has acquired a 2-acre land parcel at sector 129 in the satellite city. It will build Paras Avenue as a retail high-street space project, which it will sell in the next three to six months, however, it will sell retail space now and will generate a revenue worth ₹750 crore.
Joint Managing Director, Aman Nagar, informed that the company has raised ₹70 crore from DMI for the land acquisition, but it plans to fund the construction through internal accrual and the entire project will be completed in three and half years.
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