IVRCL Infrastructures Gets Allotment Of 33 Acres Of Land From Noida For Residential Units

IVRCL Infrastructures & Projects Ltd has announced that the Company is successful in getting allotment of 133,750 square meters i.e., about 33 acres of land in Sector 118 of NEW OKHLA INDUSTRIAL DEVELOPMENT AUTHORITY (NOIDA) for Group Housing from NOIDA at a cost of Rs 2280 Million.The Company is planning construction of 2.9 million square feet of dwelling space spread over about 1800 units at an estimated construction cost of around Rs 8000 Million. The project would be funded through internal accruals and debt and the development is expected to begin by August 2007. The project is expected to generate revenues of about Rs 10.07 Billion over a period of three to four years.