Arihant Group forays into Affordable Housing with 250 Cr investment

Delhi based, realty firm Arihant Group has announced an investment of Rs 250 crores in developing their first housing project in affordable segment, Arihant Abode, in Greater Noida West. The project will be located across 130 meter wide Noida – Greater Noida link road. The investment would be made through self-funding and customer advances. The project will offer 2/3 BHK apartments with a variety of unit plans with their carpet areas ranging from 540 sqft to 643 sq ft. The total built-up area of the project would be approx. 10 lac sq. ft. that will house 11 towers with a total of 944 units. Arihant Abode will enjoy easy connectivity to Noida, Greater Noida and NH 24 due to its strategic location. The project is designed with 100 percent units below 60 sq meter of carpet area therefore benefit of 2.67 will be applicable and gst applicable at 1%. The first 100 bookings will also get the benefit of free stamp duty as an offer by the group. The first phase of the project is expected to be ready and delivered by April 2022 while the complete project is expected to be delivered by November 2024. Units in this project would be priced at Rs. 30.36 lakhs and 34.81 lakhs for 2BHK & 3BHK respectively. The residential project would be constructed using Aluminium Formwork Technology with in-house commercial shops, elevated club house, swimming pool, park along with Schools and Shopping Malls and much more amenities nearby. This project would also be a zero garbage society where the garbage would be converted into manure with the help of excel OWC composting machines. Kaushal Jain, Managing Director, Arihant Group, said “Noida/Greater Noida is primarily an end user driven market and hence have always had a sustained level of demand. Looking forward to the vision of Housing for All, Homes in affordable and mid segment budget is a must to fulfil the demand for housing in the country.” He further added, ”the project though in affordable category will be built with best of construction technology and will have all the world class amenities. The entire investment would be met through internal accruals and customer advances.” Arihant Group has delivered 7 residential & commercial projects in Noida, Greater Noida and Ghaziabad in past, with another housing project, ArihantSouthwinds at Faridabad, in pipeline. The delivered projects of the group include Arihant Residency, Arihant Harmony, ArihantParadiso, ArihantAltura, Arihant Ambience, Arihant Arden, ArihantAmbar.