The 3C targets Gurgaon, Mumbai, Bangalore for expansion; launches new residential project in Noida

Delhi NCR-based The 3C Company, that has already delivered over 12 million square feet of niche green developments in Noida, is expanding its footprint in not just NCR but in newer metros like Mumbai and Bangalore. The 3C Company that has been undertaking green developments for sustainable living is presently working on projects worth Rs 15,000 crore. According to Vidur Bhardwaj, director of the company, currently 10,000 plus apartments are under construction across four projects including Lotus Boulevard, Lotus Boulevard Espacia and Lotus Panache besides the newly-launched Lotus Zing. Lotus Zing, coming up over 17.5 acres in Sector 168 on Noida Expressway and targeting youth and young families, will offer 2,500 units of 1-3 bedrooms, costing Rs 16-41 lakh. This gated community development of affordable luxury, has a special highlight in the form of ‘The Leaf’, a 70,000 square feet hub for sports and leisure offering a host of amenities like two outdoor pools, a kid’s pool, lawn tennis, table tennis, snooker, aerobics, basket ball, badminton, gym, yoga and meditation, kids play area and entertainment zones, walking trail, and jogging track besides a multi-utility sports hall. Other key features include convenience shopping, round-the-clock water and power, medical facilities, and ATM. Living up to The 3C’s reputation, Lotus Zing offers apartments priced at Rs 3,050 per square feet with green features including three sides open apartments, water and heat reduction, sensor lights, resulting in cost reduction. Bhardwaj told Property Pulse that Lotus Zing will break ground in December this year and the project will be completed in three years. “We have tied up with Kotak Real Estate Fund that will invest about Rs 85 crore in this project with a total capital outlay of Rs 800 crore.” On the commercial front, the 3C is coming up with two IT SEZs. One of these — Oxygen in Sector 144, Noida — is operational with 80 per cent of the one lakh sq ft of the constructed space already leased out. The project spans 3 million sq ft. The second SEZ will be coming up over 4 million sq ft area in Sector 140 A, Noida. The company is also coming up with a 3 lakh sq ft office development in Sector 127 Noida, besides a high end mixed use development over 4 million sq ft on DND flyover. The 3C has also forayed into a new vertical of education. A Lotus Valley School is coming up over 12.5 acres in Noida, besides another such school over 5 acres in Gurgaon on Golf Course Extension Road. Says Bhardwaj, “Now after our focus on Noida, we’ve decided to venture out. We have about 350 acres of land bank. Next year, we plan to enter Gurgaon and we are targeting Mumbai and Bangalore by 2012.” Meanwhile, as 3C Company sets its sights on expansion, it according to Bhardwaj, has no plans to tap capital market, especially when its arrangement with private equity funds like Red Fort Capital and Kotak Real Estate Fund is working well. 3C has six PE funded projects Source: http://www.realtyplusmag.com/rpnewsletter/fullstory.asp?news_id=10082&cat_id=1 Filed under: Bangalore , Builders/ Developers , Delhi , New projects , Noida Tagged: 3C Company , Bangalore , Gurgaon , NCR , Noida

[via India Real Estate Tracker]