Logix investing Rs 1,000 cr on commercial project in Noida

Realty firm Logix group today said it is developing a mixed-use commercial project in Noida at an investment of Rs 1,000 crore.

The project 'Noida City Center' includes a 7 lakh sq ft shopping mall, 2.5 lakh sq ft office towers, two hotels with combined 400 rooms and 100 service apartments.

"Total cost of the 6 acre project is Rs 1,000 crore and out of that Rs 600 crore is for the shopping mall," Logix group CMD Shakti Nath told reporters here.

The project was launched during India Couture Week 2014 in the presence of designer Manish Malhotra and FDCI President Sunil Sethi.

"Shopping mall will be operation in the next 4-5 months. We have already done leasing of about 75%," Nath said, adding that the office, hotels and service apartments would be completed in the next 2 years.

The mall would feature PVR Cinemas' 15-screen Superplex and the first Imax of northern India.

Hypermarket brand 'HyperCITY' and Shopper Stop will also have presence in the mall.

FDCI President Sunil Sethi said the fashion designers will get a platform to showcase their products as the mall will have a dedicated 25,000 sq ft for them.

PVR Ltd's Group President Pramod Arora said the company will bring 15-screen Superplex in this mall, which will have multiple formats under one roof.

Noida-based Logix group has tied up with Westin Hotels for the 250-rooms 5-star hotel and Hilton Garden Inn for the 4 star hotel. The company will also have tie-up for management of its service apartments, Nath said.

Logix group has completed 4 million sq ft of IT projects. It is currently developing 3-4 residential projects in Noida with 20,000 housing units.