The company, which has marked its presence in Delhi-NCR and MMR, is entering Chandigarh tri-city through this new project.
Trident Realty, a New Delhi-based real estate firm, has announced plans to invest Rs 3,000 crore to develop a 200-acre luxury housing township at Panchkula, Haryana.
The company, which has marked its presence in Delhi-NCR and Mumbai Metropolitan Region (MMR), is entering Chandigarh tri-city through this new project. The luxury project, which is coming up in the foothills of Shivalik, will comprise villas, group housing, independent floors and plots.
SK Narvar Chairman of Trident Realty said the company will invest around Rs 3,000 crore to develop this township. “Spread across 60 lakh feet square feet, the project will be developed over the next 7-8 years. This project was launched last week and we have already sold around 300 plots with a sale value of Rs 500 crore, Narvar added.
The company acquired the 200-acre land parcel through insolvency process. “In order to settle the loans of financial institutions, we have spent around Rs 400 crore. The company has also provided plots to around 450 stuck home buyers in this project,” Narvar added.
Meanwhile, Trident Realty is also looking to complete the three under-construction projects in Noida Extension and the MMR markets by 2023-end. Incorporated in 2008, Trident Realty has presence in major real estate verticals including residential, retail, commercial and hospitality. It has 12.91 million square feet area under various stages of construction.