Saya Homes to invest Rs 200cr in new shopping mall in Noida

Realty firm Saya Homes on Sunday said it will invest around Rs 200 crore over the next two years to develop a shopping mall in Noida as the company expects retail sector to bounce back post-COVID-19. Asked about investment, Saya Homes Director Manoj Jain said the total project cost is estimated at around Rs 200 crore.

Realty firm Saya Homes on Sunday said it will invest around Rs 200 crore over the next two years to develop a shopping mall in Noida as the company expects the retail sector to bounce back post-COVID-19. The company will develop 2 lakh square feet area in this 1.7-acre project named 'Saya Piazza'. ''We are coming up with a shopping center in Noida. We have acquired a plot in Jaypee township,'' Saya Homes Managing Director Vikas Bhasin said. The company will sell the retail space in this project but has kept the leasing rights with itself. Saya Homes on Sunday started the construction work of this project with a groundbreaking ceremony at the project site. Asked about investment, Saya Homes Director Manoj Jain said the total project cost is estimated at around Rs 200 crore.

The project is expected to be completed in the next two years. Jain said the retail sector, which was badly impacted due to the first and the second wave of the COVID pandemic, has been gradually recovering. ''There are not many retail projects on Noida Expressway. We expect a great response for our project from investors as it will cater to a large population in Jaypee township,'' Jain said. Saya Homes have delivered nearly 6 million square feet of area in multiple projects across the Delhi-NCR market. At present, it is developing a few residential and commercial projects at Noida, Greater Noida, and Ghaziabad in Uttar Pradesh.

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