Nirala World Sells 400 Apartments in Greater Noida

New Delhi, Sep 1 (PTI) Realty firm Nirala World has sold 400 studio apartments in Greater Noida for Rs 275 crore on strong demand from end-users and investors.

In a statement on Monday, the company said it has sold 400 studio apartments for Rs 275 crore in its new project 'Nirala Gateway' in Sector 12, Greater Noida West.

The sizes of studio apartments range from 612 square feet to 1,122 sq ft, while prices start at Rs 65 lakh.

"This project represents our inaugural large-scale commercial venture in Greater Noida West," Suresh Garg, Chairman and Managing Director of Nirala World, said.

He said the demand has been strong for studio apartments, which will be managed by a hospitality chain.

"We are in discussion with a few hotel chains for managing these apartments," Garg said, adding that this project is expected to be completed by 2029.

In this project, he said, the company would also develop around 3 lakh square feet of retail spaces.

Since its inception in 1996, Nirala World has delivered more than 7,000 residential units.

The company has recently launched a luxury residential project, 'Nirala Trio', situated in Greater Noida West. The project comprises 400 units, and it is priced at about Rs 11,000 per sq ft.

Nirala World has already developed a 25-acre project, 'Nirala Estate' in Greater Noida West, comprising 4,050 homes.