According to Vidur Bharadwaj, director of the company, of the 3.5 million sqft, one million is under construction. It will be ready in three to six months.
Already 0.2 million sqft is ready, and we hope to complete the entire project within the next four years. This is again a Leadership in Energy and Environmental Design (LEED)-certified building and we have already signed lease deals for 50% area under construction, he said.
He said the Rs 200-crore company has received good response for its green residential estate, Lotus Boulevard, which is being developed at an outlay of Rs 2,000 crore in sector 100 of Noida.
The company has already sold 1,250 apartments of the proposed 3,500 apartments. The project is coming up on around 40 acre. In the next 21 months, the company would be ready with the first batch of 400 apartments and within a period of 3-4 years, the entire project will be completed. The equity component of the project is Rs 250 crore and there is no debt.
We are planning for 2, 3, and 4-bed room apartments and they would be priced between Rs 30 and Rs 60 lakh. Our target clientele would be predominantly IT companies like Wipro, Patni, CSI, Accenture and even Nokia, he said. Bharadwaj said the focus of the company is to deliver state-of-the-art energy efficient buildings.