Mahagun Group to build luxury housing project in Noida

30 Nov 2022 CW Team

Mahagun Group announced on Saturday that it will invest Rs 18 billion over the next five years in the development of a luxury housing project in Noida, Uttar Pradesh. The company has begun taking reservations for its 40,000 sq m 'Mahagun Medalleo' project in Sector 107. According to Mahagun, the total project cost is around Rs 18 billion. Vistra TCL (India), the corporate trustee, has funded the project. It will be developed in stages and completed by 2027. There are 686 residential units in the project.

According to data from housing brokerage firm PropTiger, Delhi-NCR saw a 22 per cent increase in housing sales during the July-September quarter, with 5,430 units sold compared to 4,460 units the previous year.

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