Country Group to invest Rs 5,000 crore in luxury housing project in Noida

Real estate developer County Group on Wednesday said it will invest Rs 5,000 crore over the next five years in a luxury housing project 'Ivory County' here.

The group said it expects a sales realisation of approximately Rs 7,500 crore from the project wherein the investment would be done via self-funding, bank financing and customer advances for bookings.

Envisioned in an area of 28 acres, 'Ivory County' is located in Sector 115 near FNG Expressway, Noida Expressway and Delhi-Meerut Expressway and will be the developer's largest housing project in terms of area.

"The group will be investing nearly Rs 5,000 crore in next five years via self-funding, bank financing and customer advances for bookings with an expected sales realisation of Rs 7,500 crore approximately," the Country Group said in a statement.

"Ivory County will have a total of 2,372 units on offer and will be developed in three distinct phases in the next five years... the project will be divided in Luxury and Ultra-Luxury dwelling areas and both Ivory County and Ivory County 'Gold' will be within the four walls of the project," it said.

The price range has been set at Rs 14,000 per sq foot in Ivory County and Rs 16,000 per sq foot in Ivory County 'Gold', with units ranging from 2,034 sq foot to 6,939 sq foot, the group said.

County Group has delivered housing projects like Orange County, Olive County, Cherry County, besides Noida's first luxury project Cleo County, Ivy County, as well as Noida's first ultra-luxury project County 107.