by THO
Migsun Group will be developing a mixed-use real estate project in Lucknow for which it will invest ₹426 crore, the company said in a statement.
The project is expected to have retail spaces and studio apartments. The project has also received RERA approval.
Migsun Group bought the land from Medanta, it said.
“The company will invest ₹426 crore to develop a mixed-use development featuring retail spaces and studio apartments. The project has also received RERA approval,” the company said in a statement.
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Migsun Lucknow Central is located on Shaheed Path in Lucknow. It is spread over an area of approximately 20,239 square meters of land.
₹426 crore includes the cost of the land, the company said.
Each unit is priced at around ₹49 lakh and targets both end users and investors. It offers high street retail, food court, and business suites. Around 500 units have been launched in the first phase, it said.
The company will be funding the project through internal accruals as well as customer advances. The project is expected to be executed in multiple phases over 36 months, it said.
The first phase will be handed over to the buyers in 2027.
“We are delighted to launch Migsun Central. This is our second commercial project in Lucknow. Our first project, Migsun Janpath has been hugely successful and emerged as the city’s landmark,” says Yash Miglani, Managing Director of Migsun Group.
The company has so far completed 40 projects.
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