Migsun Group to invest Rs 350 crore to develop a studio apartment project in Lucknow

Synopsis

Migsun Group will invest Rs 350 crore in Lucknow for studio apartments. This project will cater to growing demand for compact residential and commercial spaces. The company also announced a Rs 250 crore investment in Delhi's Rohini serviced apartments. These luxury serviced apartments will offer fully managed living experiences. Both projects are expected to be delivered within three years.

The project spans around 5 acres of company-owned land, will be funded through internal sources and customer advances, and is expected to be completed within three years.

Realty developer Migsun Group will invest Rs 350 crore to develop a studio apartment project in Lucknow.

The project is designed to cater to the growing demand for compact residential-cum-commercial spaces.

It is spread across approximately 5 acres of land, which is entirely owned by the company. The project will be funded through the company’s own sources as well as customer advances and is expected to be delivered within 3 years.

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“Lucknow has become one of our most important growth markets and this launch further strengthens our presence in the city. The response to our projects in Lucknow has reinforced our confidence in the market's long-term potential. With this studio apartments project adjoining Medanta, we are introducing an address that will fulfill the growing demand for professionally designed compact residences in a high-demand micro-market,” said Yash Miglani, Managing Director, Migsun Group.

Recently, company has announced investment of Rs 250 crore in developing a luxury serviced apartment project in Delhi’s Rohini.

The project is planned to comprise nearly 500 premium serviced apartments, catering to the growing demand from corporate professionals, business travellers, expatriates, NRIs, medical tourists, and affluent urban residents seeking fully managed luxury living experiences in the capital city.