NewsStocksShree KB Realty Acquires 3-Acre Land in Greater Noida for ₹122 Crore Commercial ProjectShree KB Realty Acquires 3-Acre Land in Greater Noida for ₹122 Crore Commercial Project
Shree KB Realty has acquired a 3-acre land parcel in Greater Noida West for ₹122 crore through an auction by the Greater Noida Authority. The company plans to develop a commercial project with 8.5 lakh square feet of built-up area, citing strong demand for commercial spaces driven by completed housing projects in the area. Established in 2005, the Noida-based firm has delivered over 5.5 lakh square feet of premium residential and commercial space across Delhi-NCR.
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Real estate firm Shree KB Realty has successfully acquired a strategic 3-acre land parcel in Greater Noida West for ₹122 crore through a competitive auction process. The acquisition marks a significant expansion move for the company as it capitalizes on the growing demand for commercial spaces in the region.
Land Acquisition Details
The company secured the land parcel through an auction conducted by the Greater Noida Authority. The acquisition encompasses comprehensive costs including the base price, lease rent, and stamp duty charges.
| Parameter: | Details |
|---|---|
| Land Area: | 12,000 square metres (2.97 acres) |
| Total Cost: | ₹122 crore |
| Location: | Greater Noida West |
| Acquisition Method: | Auction by Greater Noida Authority |
| Cost Components: | Base price, lease rent, stamp duty |
Commercial Development Plans
Rakesh Singhal, founder of Shree KB Group, outlined ambitious development plans for the newly acquired property. The company intends to construct a substantial commercial project that will significantly contribute to the area's business infrastructure.
The proposed commercial development will feature:
- Built-up area of 8.5 lakh square feet
- Strategic location in Greater Noida West
- Focus on meeting rising commercial space demand
Singhal emphasized that the demand for commercial spaces remains robust in Greater Noida, primarily driven by the completion of numerous housing projects in the vicinity. This residential development boom has created a corresponding need for commercial facilities and office spaces.
Company Background and Track Record
Shree KB Realty, established in 2005, has built a solid reputation in the Delhi-NCR real estate market over nearly two decades. The Noida-based developer has successfully executed multiple residential and commercial projects across the region.
| Achievement: | Details |
|---|---|
| Establishment Year: | 2005 |
| Headquarters: | Noida |
| Total Delivered Space: | Over 5.5 lakh sq ft |
| Project Types: | Premium residential and commercial |
| Operating Region: | Delhi-NCR |
The company's extensive experience in developing premium residential and commercial spaces positions it well to execute the planned Greater Noida West project. With over 5.5 lakh square feet of delivered space in its portfolio, Shree KB Realty demonstrates proven capability in handling large-scale developments.
This latest acquisition reflects the company's confidence in Greater Noida's commercial real estate potential and its commitment to expanding its presence in high-growth corridors of the Delhi-NCR region.
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