Lotus Greens to build 4 realty projects; eyes Rs 4,400cr sales
It has acquired 925 acres in Delhi-NCR for real estate projects
Sep 23, 2014
Source : The Economic Times
Lotus Greens Developers

 

NEW DELHI: Real estate firm Lotus Greens Developers today said it will build four new projects in the national capital region with expected sales of Rs 4,400 crore over the next four years.

Lotus Greens, which was founded last year by Nirmal Singh, one of the promoters of another realty firm The 3C, has acquired 925 acres in Delhi-NCR for real estate projects.

Private equity firm Red Fort Capital has invested Rs 365 crore in Lotus Greens' projects and plans to pump in up to Rs 1,000 crore. It had infused Rs 365 crore in form of unsecured non-convertible debentures (NCDs).

"We are coming up with 4 projects at one go in Gurgaon, Noida and Yamuna Expressway comprising over 5,000 apartments. These projects are worth Rs 4,400 crore in terms of sales value," Lotus Greens Vice Chairman P Sahel told reporters.

The company would develop 300 plots and over 1,000 flats in Noida, while another 3,200 flats would come up on Yamuna Expressway.

Lotus Greens would also construct a mixed use project in Noida comprising 300 serviced apartments, a 5-start hotel and 2.5 lakh sq ft office space. In Gurgaon, the company would develop 1,000 flats.

Noida-based Lotus Greens also has plans to develop hospitality, health care and education projects, Sahel said.

Latest Realty News

Scams hit real estate prospects in Bhubaneswar
Sep 23, 2014
Recent developments in land and chit fund scams have worsened miseries of the real estate industry in the city
Probe into Land Scam Begins
Sep 23, 2014
Additional Chief Secretary of Revenue Taradatt reached Dharmasala tehsil in the district to probe the land scam and verified several documents in this regard
CBI arrests Mohanty in Artha case
Sep 23, 2014
The Central Bureau of Investigation (CBI) arrested former advocate-general (AG) Asok Mohanty for his alleged links with Pradeep Sethy, chairman-cum-managing director of money deposit circulation company Artha Tatwa (AT) Group
Green norms for commercial projects to be relaxed
Sep 23, 2014
The Union environment ministry is set to ease clearance norms for townships and building and construction projects in or close to wildlife sanctuaries, national parks and eco-sensitive zones
PM's plan for 100 smart cities: Government set to ease norms for FDI in construction
Sep 23, 2014
The Narendra Modi government is set to substantially ease norms for foreign investment in the construction sector, hoping to drum up interest in the prime minister's plans for 100 smart cities as well his affordable housing initiative
Home prices set to zoom as Delhi government hikes circle rates
Sep 23, 2014
Home prices in the capital are set to go up further with Delhi government today hiking the circle rates -- the minimum valuation at which properties have to be registered -- by up to 20 per cent
'Smart Cities' to be Identified Before Budget: Venkaiah Naidu
Sep 22, 2014
The Centre will start identifying urban areas which can be transformed into "smart cities", before the Budget, Union Urban Development Minister Venkaiah Naidu said
Excess prime land for Hyderabad metro rail project
Sep 22, 2014
In what could turn out to be the next big land scam, huge tracts of excess land was acquired by the government for the Hyderabad Metro Rail project
South Delhi administration recovers land worth over Rs 100 crore
Sep 22, 2014
In a series of anti-encroachment drives carried out between August and September, the south Delhi administration has retrieved gram sabha land worth more than Rs 100 crore
'GDA notices no deterrent to illegal constructions'
Sep 22, 2014
Despite thousands of notices being issued by the Ghaziabad Development Authority to errant developers, illegal constructions continue to mushroom in various parts of Ghaziabad

Latest Realty News Of State

Realty Talk's