Experion Developers to Invest Rs 1,500 Crore in New Noida Projects

Experion Developers, a realty firm based in Gurugram, is set to invest approximately Rs. 1,500 crore to develop a luxury housing project in Noida, reflecting the company's expansion plans amidst the rising demand for residential properties. The new project, named 'Experion Elements,' has been registered with the Real Estate Regulatory Authority (RERA) for launch.

Experion Developers, a wholly owned subsidiary of Experion Holdings Pte Ltd, Singapore, plans to build around 320 housing units on a 4.7-acre site in Noida, Uttar Pradesh. The first phase of the project will see about 160 units offered for sale. Nagaraju Routhu, CEO of Experion Developers, said that the company’s entry into Noida marks a significant step as the city is a crucial real estate market in the Delhi-National Capital Region (NCR).

Having secured RERA registration for the project, Experion Developers has launched the first phase of 'Experion Elements.' The total developable area of the project is expected to exceed 10 lakh sq ft. The starting price for a 3-bedroom apartment is nearly Rs 5 crore, with modern charging infrastructure for electric vehicles among the project's amenities.

Routhu noted that the land for the project was purchased from the state government through an auction process, allowing Experion to develop the residential community. Regarding the estimated Rs. 1,500 crore investment, he said the cost would be covered through internal accruals and advance collections from customers.

Experion Developers is engaged in developing township, housing, and commercial projects across various locations, including Gurugram, Amritsar, Lucknow, and now Noida.

This move by Experion Developers comes amid a significant upsurge in housing sales in Delhi-NCR. According to PropTiger.com, a housing brokerage firm, the region witnessed over a two-fold increase in sales, reaching 10,060 units during January-March 2024, compared to 3,800 units in the same period the previous year. In terms of value, sales in Delhi-NCR rose sharply to Rs. 12,120 crore from Rs. 3,476 crore in the period under review.

BS