Nimbus Group's New Luxury Abode in Noida: A Rs 1,000 Crore Investment

The Nimbus Group is poised to transform Noida's luxury housing scene with a substantial Rs 1,000 crore investment. The realty firm will develop 'Arista Luxe', a high-end residential project in Sector 168, designed to encompass 342 upscale apartments.

Promoter Bipin Agarwal announced that Nimbus Group has partnered as a co-developer to rejuvenate a stalled 10-acre housing project initially started by Sunworld Residency Pvt Ltd. From this endeavor, 600 units have already been handed over to customers. The new phase will add four towers on a 4-acre land segment.

Approximately Rs 500 crore of the investment will be allocated for construction, with additional funds directed to settle outstanding dues with the Noida Development Authority and payments to Sunworld for land costs. The project's pricing strategy places apartments between Rs 4-8 crore, aiming to gradually attract end-users amidst a steady demand in the region.

(With inputs from agencies.)