Big impact of Jewar Airport! Mahagun Group to invest Rs 600 cr in developing retail park in Greater Noida
Sensing the growing residential population in Greater Noida once the Jewar Airport becomes operational, Mahagun Group has decided to invest in the retail park project.
Buoyed by the developments with regard to the Jewar International Airport, realty major Mahagun Group has announced the launch of its new commercial project called Mahagun Marina Walk at Greater Noida West. The retail park would be developed with an Investment of over Rs 600 crores. The retail project would comprise a shopping area, multiplex, hotel and office spaces. The group proposes to sell around 4.3 lac sqft area of the project and retain the balance with them.
Giving details on the development Amit Jain, Director at Mahagun Group said, “With the growing residential population in Greater Noida West once the Jewar Airport becomes operational, the need for retail and shopping is ever increasing. Hence we felt it’s the right time to launch a project like Marina Walk. By the time the project would be ready; the region’s population would be double or even more.”
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Amit Jain of Mahagun Group further added, “With the metro becoming operational soon and connectivity increasing via widening of NH 24 and the presence of FNG (Faridabad, Noida, Ghaziabad) Expressway, Greater Noida West is becoming a hub for residential and commercial developments. Also with Jewar Airport’s work being paced up, the airport in coming few years will immensely help the regions like Noida, Greater Noida and Greater Noida West, to grow.” The new retail project will be developed on a total plot area of 18,694 sq. meters and will have a built-up area of 1.16 million sq. feet.
The project will avail bigger spaces like anchor stores, 14 screen superplex, food court, hyper store & entertainment area. The hotel will spread across an area of 2.33 lac sqft and will have more than 250 keys. The office block will comprise 150 units of office spaces, which will be in the sizes of 700 sqft to 2000 sqft per unit with a total area of 1.15 lac sqft. The project would be ready by December in the year 2023.