In a significant strategic expansion, Gurugram-based real estate firm Smartworld Developers has announced its foray into the Noida market with a massive investment plan. The company will pump in approximately Rs 2,000 crore to develop its first project in this key micro-market of the Delhi-National Capital Region (NCR).
Land Acquisition and Project Details
The developer has secured a prime 6-acre land parcel in Sector 98, strategically located along the Noida Expressway. The land was acquired through an auction process for a sum of Rs 414 crore. On this plot, Smartworld Developers plans to construct a high-end mixed-use development. The project will feature premium branded residences, high-street retail spaces, and serviced apartment units.
The company estimates the total revenue from this ambitious venture to surpass Rs 3,000 crore. This move represents a calculated step to diversify its geographical footprint beyond its stronghold in Gurugram. Ashish Jerath, President of Sales and Marketing at Smartworld Developers, highlighted the rationale behind this expansion.
"Entry into Noida is a significant milestone for Smartworld Developers as we further strengthen our presence in the NCR region," Jerath stated. "Noida's rapidly evolving infrastructure and its growing importance as a key real estate hub offer immense potential."
Strategic Growth and Market Context
This expansion is backed by the company's robust financial performance. In the last fiscal year, Smartworld Developers achieved sales bookings worth Rs 6,400 crore, registering an impressive annual growth of 60 per cent. To date, the firm has delivered around 6.5 million square feet of real estate space and currently has another 20 million square feet under construction across its projects.
Adding to the project's allure, the company is in advanced discussions with a leading global brand for a potential collaboration on this Noida venture. Such a partnership could further elevate the project's branding and market appeal.
NCR Real Estate Landscape
The announcement comes at a time when the residential real estate market in Delhi-NCR is experiencing a phase of correction. According to data from real estate consultancy PropTiger, which was recently acquired by Aurum PropTech, residential property sales in Delhi-NCR witnessed a 21 per cent decline year-on-year during the third quarter of this calendar year. Sales dropped to 7,961 units from 10,098 units in the same period last year.
This broader market trend highlights the strategic confidence Smartworld Developers places in Noida's specific growth trajectory. The company's substantial investment signals a strong belief in the long-term demand for premium, well-located real estate in this expanding part of the NCR, despite short-term market fluctuations.
