KV Developers plans to develop 800 flats in Greater Noida
Delhi-NCR: KV Developers is to invest Rs 300 crore for its new group housing project in Greater Noida by 2016 in which they are planning to build about 800 flats.
This is the first real estate project by KV Developers. The realtor is planning to launch the project soon and to start the construction work from August-September. The land for the project has already been acquired by the builder. It is in the process of getting approvals from concerned authorities to start the development of the project.
The project is planned to be developed on a 5-acre plot. As per the builder’s estimates, the project would need a total investment of Rs 250-300 crore in the next three years. Most part of the fund required for the project will be given by K V Group while the remaining will be borrowed by banks.
The project will house 2, 3 and 4 BHK apartments and size of the units will vary between 850 sq ft and 1,500 sq ft. It will offer apartments between Rs 30 lakh and Rs 45 lakh, depending upon the size and location of the flat.
According to sources, the mid-income group housing project in Greater Noida will be designed by architect C P Kukreja Associates.
KV Developers is looking to develop more projects in the National Capital Region only. It will focus mainly on projects in luxury segment. The company is in advanced stages of negotiations to acquire 25 acres of land each in Noida and Gurgaon.
Besides K V Developers, the K V Group of companies include K V Aromatics Pvt Ltd and K V Buildestate LLP. The Group, which is into mint and money-lending businesses, has yielded a revenue of Rs 460 crore in 2012-13 and is looking to increase it to Rs 1,000 crore during the current financial year.
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