Bhasin Group to build Rs 150 crore tower at Noida in 99 days

Realty firm Bhasin Group today said it will invest Rs 150 crore on construction of a 33-storey commercial tower in Noida in mere 99 days, a sort of record for the national capital region.

To construct the composite steel structure tower covering 9 lakh sq ft of area, the company has given a contract worth Rs 35 crore to Jindal Steel and Power Ltd for supply of pre- engineered columns, beams and allied structure.

"This will be the tallest and fastest (built) composite steel building in the country," Bhasin Group MD S S Bhasin claimed.

The construction started on October 21 and would be completed by January 29, 2016, he said, adding that this tower would be operational by April-May after getting the necessary approvals.

Bhasin said the company would invest Rs 150 crore on construction of this office-cum-retail tower. It is selling commercial space at Rs 3,500 per sq ft. This tower is part of 25-acre project that the company would develop in Noida.

Although the construction cost of this building is 15 per cent higher than for a normal building, Bhasin said the effective cost would be less as it will be completed in a very short span of time.

Jindal Steel & Power Director (Sales & Marketing) V K Mehta said the company would supply more than 4,000 tonnes of steel of highest strength for construction of this tower.

Bhasin Group, which deals in automobiles, has entered into real estate sector. It has already developed a shopping mall in Greater Noida.