Nimbus Group is set to invest approximately Rs 1,000 crore in a new luxury residential project named ‘Arista Luxe,’ located in Sector-168, Noida. This initiative is a co-development of a previously stalled 10-acre housing project that was initially launched by Sunworld Residency in 2011-12, and it will comprise 342 luxury apartments with prices ranging from Rs four to eight crore.
The first phase, which spans six acres, has already successfully delivered around 600 units. Now, an additional four towers will be constructed on a four-acre site. Out of the total investment, Rs 500 crore has been allocated for construction.
Nimbus will also settle outstanding payments to the Noida Development Authority and compensate Sunworld for land expenses. The project is being launched at a price of Rs 16,000-18,000 per sq. ft., aimed at end-users, with sales expected to be rolled out gradually to align with the consistent demand in Noida and Greater Noida.
Nimbus Group, which has successfully delivered around 8,000 homes in Noida, is actively pursuing the development of several housing projects in the area. The co-developer policy implemented by the Noida Authority is anticipated to facilitate the completion of numerous stalled projects.
