SKA Group to Invest Rs 300 Crore In Noida Project

SKA Group has announced its luxury residential project, SKA Orion in Sector-143, Noida. Spread over 3.5 acres, the cost of the project is Rs 400 crore out of which Rs 300 crore is the cost of construction and Rs 100 crore is the land cost. The investment will be funded through internal accruals, promoter’s contribution and booking of units. The Group is looking at total sales realisation of approximately Rs 450 crore. After the RERA announcement, the customer response has been encouraging and “we have sold about 150 units till now,” said the company. To be developed in single phase, the project has 508 units of 3 BHK configuration; the company has launched 380 units of the total stock and will complete the project by 2026. The company has completed four projects in Noida, Greater Noida, and Ghaziabad. All projects are completed before time. Presently, five projects are in progress and all projects are ahead of their schedule. The area around Sector 143 is called Silicon Valley of Noida; number of functional IT parks, multiplex, shopping centres, schools & hospitals are within 5 to 10 kms of the project.  Talking about the prospects of the area, especially after the news of Noida International Airport, Sanjay Sharma, Director, SKA Group, said, “The nearby region will continue to attract the attention of investors and end-users, increasing the number of new launches and sales activities in ongoing and upcoming projects. It will bode well for the pricing aspect also, as this region will become a hub of properties catering to different segments.”