Experion Developers, a 100% FDI-funded real estate developer and wholly owned subsidiary of Experion Holdings Pte. Limited, Singapore, is set to invest ₹1,000 crore to develop a new luxury housing project in Noida's Sector 151. This strategic acquisition marks Experion's commitment to the rapidly growing real estate market within the Delhi-NCR region.
This investment follows the company's previous success with Experion Elements, located in Sector 45, Noida, which has experienced remarkable demand. Nagaraju Routhu, CEO of Experion Developers, emphasized the overwhelming response to the previous project, stating, "The overwhelming response to Experion Elements in Sector 45, Noida clearly demonstrated the strong demand for premium residences in Noida. Our acquisition in Sector 151 is a direct response to this demand, reflecting our belief in the continued growth of the Noida market."
Located along the Noida-Greater Noida Expressway, Sector 151 has increasingly become recognized as a prime area for luxury residential developments. According to Routhu, the new project aims to push the envelope for exceptional living standards and modern luxury, aligning perfectly with market demands.
Experion Developers acquired the new site, measuring approximately 5 acres, through auction conducted by the state government. Routhu noted, "With a planned investment of over ₹1,000 crore, the company is embarking on the development of this project." This move not only marks another milestone for Experion Developers but also reiterates the company’s dedication to creating exceptional project benchmarks.
Despite the backdrop of fluctuated home sales across some major cities, Delhi-NCR has bucked the trend, seeing its housing sales increase by 5% from 41,678 units to 43,923 units last year, as indicated by the reports from PropEquity. This rise signals promising prospects for the continuation of luxury developments, placing Experion Developers among the frontrunners of market demand.
Interestingly, the broader housing market recently saw sales decline by 9% across the top nine cities, with new supply also decreasing by 15% due to two consecutive quarters of inactivity, spurred by general elections and seasonal monsoons.
Nevertheless, the development of new luxury projects like those from Experion is viewed as driving growth against the prevailing market conditions. "This investment allows us to continue our commitment to developing exceptional projects," Routhu concluded, offering optimism for prospective homeowners and investors alike.
Overall, Experion Developers' entry with this substantial investment not only highlights its market confidence but also contributes positively to the growing need for premium residential options within the increasingly competitive Noida real estate sector.