The company, a wholly owned subsidiary of Experion Holdings Pte Ltd, Singapore, will develop around 320 housing units in this 4.7-acre project at Noida in Uttar Pradesh.
According to a study by property consultancy ANAROCK, the affordable housing category saw a decline in overall sales to approximately 20 percent of the overall pie in 2023 from over 30 percent in 2022. Developers ping hopes on the interim budget 2024 to get done the necessary revisions in affordable housing criterion.
The company plans to launch projects in all five land parcels it has acquired recently, in addition to acquiring more land in the NCR and other cities.
Experion Developers, a 100% FDI-funded real estate developer backed by Singapores Experion Holdings, has acquired a land parcel in Gurgaon s Sector 48, through a government auction valued at approximately Rs 550 crore. This is the fourth acquisition by the company in recent months. The company has plans to develop a luxury residential project on the land acquired.