Experion Developers, in collaboration with Experion Holdings of Singapore, is set to embark on a substantial real estate venture with a total investment of Rs 4,700 crore in the fiscal year 2024. The ambitious project entails the construction of high-end residential properties in the cities of Noida and Gurugram, adjacent to the national capital.
Anticipating a cumulative revenue of Rs 6,500 crore, Experion Developers plans to undertake three prominent projects, encompassing a sprawling 4.1 million square feet of prime real estate in these two bustling cities.
The venture envisions an investment of Rs 1,400 crore for the luxurious housing project situated in Noida’s Sector 45. In Gurugram, two major projects are on the horizon: Rs 1,800 crore for the Sector 48 project and Rs 1,500 crore for the Golf Course Road Sector 42 project.
To secure these developments, the realty firm successfully acquired 5 acres of land in Noida and two plots totaling 9.5 acres in Gurugram through auctions.
Commenting on the acquisition, BK Malagi, Chief Operating Officer of Experion Developers, stated, “The Noida plot was procured for approximately Rs 300 crore. We are poised to unveil a premium luxury housing project spanning 1.3 million square feet, with an estimated investment of around Rs 1,400 crore. This project is slated to comprise 300 premium luxury apartments and is scheduled for launch in December 2023 or January 2024.” Malagi further revealed that the Gurugram projects are slated to commence next year.
In Gurugram, the company plans to initiate a 1.8 million square feet uber-luxury housing project in Sector 48 Subhash Chowk and a 1 million square feet boutique luxury residential project on Golf Course Road.
Malagi added, “Our focus for these projects will be on offering larger flats exceeding 2,500-3,000 square feet. Detailed specifications regarding the number of units and flat sizes are still under consideration. We expect these projects to be completed within four to five years from their respective launch dates.”
Experion Developers has already completed approximately 7 million square feet of development across eight projects in Gurugram, Lucknow, and Amritsar.