CRC Group to develop IT/ ITES project in Noida, eyes Rs 1200-cr revenue

financialexpress.com:

The CRC Group, a realty player headquartered in Noida (UP), has announced the launch of its much-awaited commercial project with intelligent office spaces — CRC Flagship — in Sector 140, Noida. The company plans to invest around Rs 800 crore for developing this project and the expected revenue is Rs 1200 crore.

Spanning across a total of 24 lakh square feet area, CRC Flagship comprises 12 lakh square feet of contemporary office spaces, 4 lakh square feet of premium retail outlets, 102 units serviced apartments, and an extensive 7 lakh square feet dedicated to various essential services. The retail segment will offer an exquisite blend of high-street and air-conditioned shopping experiences, including a food court, prominent anchor shops, and vanilla shops on the leasing model. The company claims this project to be one of its kind in Noida and Greater Noida.

“Noida is emerging as the next corporate hub of NCR due to its proximity to Noida International Airport and the emergence of Yamuna Expressway as an industrial hub. As a result, we expect a phenomenal increase in the rental value of the city. Keeping in with growth projections, CRC Flagship has been designed to be future-ready. It is scalable as per the emerging needs of the next three decades,” said Salil Kumar, Director-Sales & Marketing at CRC Group.

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Designed with sustainable development as a key feature, an area equivalent to the ground coverage of the project has been reserved exclusively for landscape development, reflecting the company’s core principle of “giving back to nature.”

CRC, at present, is undertaking the construction of projects spread over a total of 72 lakh sq ft area. Besides,