Allahabad based, Tulsiani Group is all set to expand its business to Meerut with the launch of its first real estate project in the city. The company is going to invest almost Rs 700 crore in its projects.
The project, Silver lune Urbe is going to be officially launched on Monday. While talking to The Pioneer in an exclusive interview, Anil Kumar Tulsiani, Chairman and Managing Director of the company said, "Our project in Meerut would require an investment of around Rs 700 crore out of which almost Rs 100 crores is the land cost. We have already acquired the land and will be investing the remaining Rs 600 crore in the next three to five years for the construction purposes."
Out of the 110 acres of land, Silver lune Urbe would be constructed in 56 acres while the remaining would be utilised later. The Silver lune Urbe project entails development of residential flats and villas, apart from commercial space. "The first of the Meerut project spanning 56 acres is expected to be completed in three years," Tulsiani added.When asked what plans the group has for the remaining parcel of land, Tulsiani informed, "We are waiting for the approvals which are likely to come by October this year.