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CRC Group to invest Rs 810 crore to develop commercial project in Noida?

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CRC Group to invest Rs 810 crore to develop commercial project in Noida?

  • 11 May 2023

The company to invest the amount in constructing an integrated IT/ITES commercial project in Noida. The project will spread across an area of 22 lakh sq ft of built-up area.

On February 6, Noida-based real estate developer CRC Group revealed plans to invest Rs 810 crore in the construction of a commercial property there.

The corporation will spend the money through its Special Purpose Vehicle, IT Infrastructure Park Pvt Ltd, in order to build a 22 lakh square foot integrated IT/ITES commercial project in Noida that meets worldwide standards.

The project, which has the potential to create 9,000 jobs, has already been approved by the Uttar Pradesh government under the Invest UP initiative, according to a memorandum of understanding (MoU) signed by the Noida-based company.

Kunal Bhalla, the company's founder and CEO, told reporters, "We have purchased 11.16 acres of land in Sector 140 A, Noida to create a Grade-A integrated IT/ITeS commercial project.

The property has already been bought. The UP state government supports Invest UP, an organisation that promotes and facilitates investments.

"We are pleased to declare that we are making a Rs 810 crore pledge towards the Invest UP Programme. Our organisation is dedicated to developing the state's commercial and residential infrastructure by collaborating closely with the government. According to Salil Kumar, director of marketing and business management at CRC Group, "this investment will help strengthen our status as one of the state's top real estate developers, offering world-class infrastructure solutions to suit its demands while creating job opportunities."

The business also has projects in Greater Noida Tech Zone 4 and Noida.

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