Maasters Infra Group, instituted by seasoned professionals and under the patronage of five-decade-old infra company K. R. A. Engineers & Contractors, announced their first commercial project Maasters Capitol Avenue spread over 5 acres in Sector 62, Noida. With the strategic announcement during festive season, the group was bullish about the market response as signs of recovery in commercial realty were visible.
As per Knight Frank’s recent report the total office transactions in NCR rose to 6.4 mn sq ft in 2021 and new completions witnessed an increase of 38 per cent YoY. The region saw office space absorption of around 4 mn sq ft in H2 2021 compared to 2.1 mn sq ft in the year-ago period. Gurugram witnessed 64 per cent of overall office space transactions in H2 2021 – 2.6 mn sq ft of office space, while Noida saw leasing activity of 1.1 mn sq ft (at par with H2 2020).
The company says that the total sales realization from the project is between Rs. 600 crore to Rs. 650 crore. The real estate group also has plans on coming up with a residential project and a IT park project in near future.
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