Bhutani Infra, a luxury developer, announced on monday that all retail spaces in its new project Avenue 133, a mall in noida Sector 133, were sold out within 12 hours of its introduction. According to industry insiders, the sale of retail space in phase one of Avenue 133 brought in more than Rs 1,000 crore for the real estate developer, with prices ranging from 24,000 sq ft to 40,000 sq ft.

According to a source close to the realty business, the second phase of the project is set for sale next year, and the group expects earnings of up to Rs. 1500 crore from it. "One of the fastest selling assets is Avenue 133." Our previous record was three weeks. It's been less than 12 hours this time," Bhutani told PTI. He did not, however, reveal the number of units sold or the income collected. Bhutani said the sales rate is not unusual for noida, which has recently been the industry's focal center.

"The plus point with this project is that it has filled a void for a good, major commercial project in a location where a lot of residential projects have come up," he said. Avenue 133, located along the Noida-Greater noida Motorway, features a mix of retail businesses, health facilities, office spaces, and a bustling food court. Bhutani Infra stated in a statement that the project intends to be the longest high-street commercial project in Delhi-NCR, delivering a contemporary retail experience and a lively commercial hub.

"While Avenue 133 stands as a prime example of the developer's commitment to quality, innovation, and environmental responsibility, the quick sell-out from the launch reflects the trust and confidence buyers and investors have on Bhutani Infra's projects," the company said in a statement.
For more interesting updates wa click and follow Indiaherald WhatsApp channel

Find out more:

Bhutani Infra

SIBY JEYYA

28/11/2023 08:09 AM