NCR-based real estate firm County Group has set aside a budget of Rs 1,000 crore for acquiring new land parcels to launch residential and commercial projects across NCR and another Rs 300 crore to foray into the data centre business in Noida or Greater Noida, Amit Modi, director, County Group and president of Credai (Western UP) said
“We are in a position to acquire land worth Rs 1,000 crore. We have already procured land at an auction worth Rs 500 crore in Delhi from DDA for a commercial project and are now seriously scouting for land for launching residential and commercial projects in NCR,” he said.
The company is also looking at diversifying into other verticals such as the data centre business. “We are looking for a tie-up for the data centre vertical which we intend to launch as a separate vertical this year. We have set aside Rs 300 crore for this business and will come up with the facility either in Noida or Greater Noida this fiscal,” he said, adding the data centre business is location agnostic, and “it does not really matter where it comes up.”
The company is also planning to launch a commercial project along Noida Expressway this year. “We are participating in a bid for the purpose. Funds for the land will be from the budget of Rs 1,000 crore that we have set aside for acquiring land for residential and commercial projects. The firm is also exploring a residential project in Gurgaon, he said. The company is planning to deliver close to 1,600 units this year across projects located in Noida such as Ivy County, Coco County and County 107,” he said.