New Delhi: Riding high on the country’s real estate boom, realty developer Jaypee Greens will develop a premium township over 500 acres of land at Noida.
This is the second project in the national capital region by the Jaiprakash Associates group company.
“We will develop a premium township in Noida, which will be spread over 500 acres of land. The bookings for the same has already started,” Jaiprakash Associates Assistant General Manager (Marketing) Vibhor Gupta told PTI.
He, however, declined to give any estimated investment saying that the project cost would vary in the future due to various factors. On funding, Gupta said it would entirely be done through internal accruals.
The company would start the construction work in three months and expects the project to be completed by 2010.
The township - Wish Town - would consist of both residential and commercial properties, Gupta said, adding that it will be predominantly residential, where the company will construct apartments and allot housing plots.
Wish Town would comprise 8,000-9,000 housing units. The sizes would vary from 1,600 to 3,300 sq ft comprising 2-4 bedrooms apartments. The price of the apartments would start from Rs 1.4 crore.
The sizes of the residential plots would start from 250 sq yards and would vary up to 500 sq yards. “The price for the plots will start from Rs 2.5 crore,” Gupta said.
The township would have 350 acres of open area that includes 15 lakes and water bodies. It would provide golf facility, play areas and parks.
The Jaypee Group is a diversified company that has presence in engineering and construction, cement, private hydro power and hospitality among others.