Nirala World Buys Land in Greater Noida for Commercial Project

New Delhi, Oct 17 (PTI) Realty firm Nirala World has acquired 2.6 acres of land in Greater Noida for Rs 180 crore to build a commercial project.

In a statement on Thursday, the company said it has bought 10,600 square meters of land (2.6 acres) worth Rs 180 crore, including GST, lease rent and stamp duty.

The parcel of land is located in the Greater Noida West sector 10 (Plot no C-6). The land was recently acquired through an auction by the Greater Noida Authority.

"We have recently acquired a land parcel in Greater Noida West through a tough auction process. On the purchased land, we intend to build a commercial project (a mall or a high street)," Suresh Garg, Chairman and Managing Director of Nirala World, said.

The project will be developed by the company using its funds.

"We would start construction as soon as UPRERA and the authorities give their approvals," he said.

The company has recently launched a luxury residential project 'Nirala Trio' situated in Sector 2, Greater Noida West. The project comprises 400 units and it is priced at about Rs 11,000 per square foot.

Nirala World has already developed a 25-acre project 'Nirala Estate' in Greater Noida West comprising 4,050 homes out of which possession of 3,600 units has been given to the buyer and 450 units to be delivered soon.