Brys to build 300-metre housing tower

Brys Group will develop a residential tower in Noida offering flats for up to Rs 9 crore a unit.

New Delhi: Real estate firm Brys Group has said it will develop a 300 metre tall residential tower in Noida, offering flats for up to Rs 9 crore a unit.

The company has earmarked an investment of Rs 1,000 crore to develop 285 premium apartments over the next four years.

"This will be the tallest building in NCR. There is a dearth of premium and iconic properties in NCR. With this 300 metre high and 81 storey structure, we will try to create a landmark," Brys Group Chairman Rahul Gaur told reporters here.

The company will construct 285 premium housing units in the project, which will be developed in an area of 10 acres, he added.

"We will offer different sizes of flats with 3, 4, 5 and 6-BHK units. There will be some luxury villas also. The prices of the units will start from Rs 3 crore and will go up to Rs 9 crore," Gaur said.

The sizes of the apartments will vary between 3,000 sq ft and 8,650 sq ft, he added.

Talking about investment, Gaur said: "We will invest Rs 1,000 crore in this project. We have already acquired the land and now construction will start".

The company will fund this amount through a mix of internal accruals, cash flows from the sales of flats and bank loans, he added.

Gaur said the construction of the project will start from January next year and will be completed by 2016.

Some of the facilities the company will offer in the project include private pools, clubs, multi-cuisine restaurants, fitness centres and other community facilities.

Established in 2012, the Brys Group is at present constructing its first five-star hotel at Jaisalmer in Rajasthan.


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