Paarth Infra to invest Rs 5,000 cr in UP realty projects
During this calendar year, Realtor Paarth Infrabuild has intended to invest about Rs 5,000 crore in different projects to be launched in Uttar Pradesh.
Paarth Director and Promoter Pradeep Misra told sources, the real estate projects would primarily be launched in Lucknow, Noida and Kanpur.
He informed, “We aim to develop area aggregating 12 million square feet in UP over the next couple of years.” On Sultanpur road, ‘Paarth Arka’project has been launched by the company which is a Rs 650 crore residential project and is fast developing as the next big realty destination in Lucknow.
Hafeez Contractor to design the project
Famous architect Hafeez Contractor has been roped by Paarth, to design the proposed green project, which had been certified by the Indian Green Building Council (IGBC) as gold rated.
IGBC gold rated projects have 50 per cent indoor area with cross ventilation over conventional buildings, save 35 per cent water and are 40 per cent energy efficient. The project would comprise of 9 towers varying stories ranging from 24 to 32, spread over 11 acres, with a total of 905 units measuring 1600-3000 sq ft. He said Paarth is expected to launch a Rs 4,000 crore project in Kanpur as well spread over 80 acres. Last year, the company had launched a Rs 1,400 crore group housing project here spread over 27 acres. Under the project for different segments, almost 2,000 residential units had been planned to be developed.
There was a lot of real estate growth potential in tier II and III cities, such as Lucknow and Kanpur, as per the contractor. He added, “There is tremendous shortage of housing in India and it is imperative to bridge the gap with cheaper, yet faster solutions.”
To tide over land scarcity and affordable housing issues, he recommended for more intense apartment development.
Source: Business Standard
Conventional buildings, Green project, Hafeez, Indian Green Building Council, Kanpur, Lucknow, Noida, Paarth Director and Promoter Pradeep Misra, Paarth Infrabuild, Real estate projects, Residential Project, Sultanpur road, Uttar Pradesh, ‘Paarth Arka’project
