Nirala World's 'Nirala Gateway' Sells 400 Studio Apartments for Rs 275 Crore in Greater Noida West

Nirala World, a prominent real estate developer, has achieved a significant milestone with the successful sale of 400 studio apartments in its new project 'Nirala Gateway' located in Sector 12, Greater Noida West. The company reported a total sales value of Rs 275.00 crore for this commercial venture.

Project Details

The 'Nirala Gateway' project offers studio apartments ranging from 612 to 1,122 square feet, with prices starting at Rs 65.00 lakh. This marks Nirala World's first large-scale commercial project in the Greater Noida West area.

Strong Demand and Management

Suresh Garg, Chairman and Managing Director of Nirala World, expressed satisfaction with the project's reception, noting strong demand from both end-users and investors. To enhance the appeal of the apartments, the company plans to have them managed by a hospitality chain. Nirala World is currently in discussions with various hotel chains for this purpose.

Project Timeline and Additional Features

The 'Nirala Gateway' project is slated for completion by 2029. In addition to the residential units, the development will include approximately 3 lakh square feet of retail spaces, adding to its commercial appeal.

Nirala World's Track Record

Nirala World has established itself as a significant player in the real estate market since 1996, having delivered over 7,000 residential units to date. The company's portfolio includes:

• Nirala Estate: A 25-acre project comprising 4,050 homes in Greater Noida West.
• Nirala Trio: A recently launched luxury residential project featuring 400 units priced at Rs 11,000.00 per square foot.

Market Implications

The successful sale of 400 studio apartments in 'Nirala Gateway' indicates a robust demand for commercial and mixed-use properties in the Greater Noida West area. This project, combining residential units with retail spaces and professional management, represents a growing trend in the real estate sector towards integrated living and working spaces.

The rapid absorption of these units also suggests investor confidence in the Greater Noida West market, potentially signaling continued growth and development in this region.