Industry sources said the sale of retail space in phase one of Avenue 133 has fetched over Rs 1,000 crore for the real estate developer
New Delhi: Luxury realtor Bhutani Infra on Monday said all retail spaces in its new project Avenue 133, a mall in Noida Sector 133 were sold out within 12 hours of its launch.
Industry sources said the sale of retail space in phase one of Avenue 133 has fetched over Rs 1,000 crore for the real estate developer, with prices ranging from Rs 24,000 sq ft to Rs 40,000 sq ft.
The second phase of the project is scheduled for sale next year and the group is eyeing revenue upwards of Rs 1,500 crore from it, a source close to the realty group told PTI.
“Avenue 133 is one of the fastest-selling assets. Our last record stood at three weeks. This time it has been less than 12 hours,” Bhutani told PTI.
However, he declined to share details about units sold or revenue earned.
About the pace of sales, Bhutani said the speed is not surprising for Noida, which has become the point of focus in the industry now.
“The plus point with this project is that it has filled a void for a good, major commercial project in a location where a lot of residential projects have come up,” he added.
Located along the Noida-Greater Noida Expressway, Avenue 133 offers a mix of retail shops, wellness centres, office spaces, and a lively food court.
It aims to be the longest high street commercial project in Delhi-NCR, providing a modern retail experience and a bustling commercial hub, Bhutani Infra said in a statement.
“While Avenue 133 stands as a prime example of the developer’s commitment to quality, innovation, and environmental responsibility, the quick sell-out from the launch reflects the trust and confidence buyers and investors have in Bhutani Infra’s projects,” the group said.