New Delhi: Realty firm Sikka Group on Wednesday said it has tied up with Birla Estates to develop a housing project worth Rs 1,600 crore in Greater Noida.In a statement, the company said that the project will come up on a 5-acre land parcel owned by the Delhi-NCR-based Sikka Group.
"Birla Estates will join the venture as co-developer and will invest around Rs 500 crore," it added.The project is estimated to have a gross development value of nearly Rs 1,600 crore."Greater Noida remains a market with long-term residential potential. Birla Estates brings credibility, financial depth, and execution capability.
With them on board, we are confident of moving this project forward in line with the timelines and standards expected by both homebuyers and the Authority," said Harvinder Singh Sikka, Managing Director, Sikka Group.The Greater Noida Development Authority has allowed co-developers to revive the stuck projects.
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