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Realty firm Saya Group on Wednesday said it will invest Rs 100 crore to develop 336 studio apartments in Greater Noida.
The company will sell these 336 fully furnished studio apartments at around Rs 55 lakh. The size of each studio apartments will be around 700 square feet.
"We are developing 336 studio apartments in Noida Extension (Greater Noida West). This is part of our 3-acre high street retail project Saya South X," Saya Group MD Vikas Bhasin told reporters.
Saya Group is developing nearly 9 lakh square feet built-up area in this project, with a total saleable area of 6.8 lakh square feet.
Out of the total saleable area, high street retail will be around 4.5 lakh square feet and studio apartments 2.3 lakh square feet.
"The total investment on the entire project is Rs 450 crore," Bhasin said.
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He said the high street retail will be ready for fit-out by October this year and the retail area would be operational by January-February next year.
Bhasin said the studio apartments will be ready in 2025.
"There is a great demand for good quality studio apartments in Greater Noida (West) area. We are witnessing demand from both end-users and investors," he said.
Bhasin said the company will rope in some operator to manage these studio apartments.
Last month, Saya Group will invest Rs 2,000 crore to develop a 14 lakh sq ft shopping mall in Noida as part of its expansion plan.
The construction work has started and the shopping mall 'Saya Status' is expected to be operational in January 2025.
Saya Group has completed four residential projects in Delhi-NCR comprising more than 3,000 units.
It is currently developing three retail projects in Noida and Greater Noida.
Saya Group is investing around Rs 200 crore to develop a shopping mall, comprising of 2 lakh sq ft area, named 'Saya Piazza' in Noida.
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