Grihapravesh-Radius tie-up to provide energy efficient technologies for housing project in Noida

For the first time in real estate industry history, realty major Grihapravesh Buildteck is bringing energy efficient technologies for consumers who can save energy in their respective houses.

On Thursday, the company announced a tie-up with technology firm Radius Group for providing energy efficient devices in its housing project at Noida, which is being developed at a cost of Rs 280 crore.

Mumbai-based Grihapravesh Buildteck is developing its first housing project in the NCR comprising 500 units.

“We have collaborated with Radius to provide us with world class energy efficient technologies. This will benefit of our customers as they will get itemised bill for electricity consumed,” Grihapravesh CMD Abhay Kumar told reporters here.

Kumar said the company had launched the project in 2011 and the construction would be completed next year.

Asked about investment on Noida project, Kumar said it would be about Rs 280 crore including land and construction.

“We have already invested around Rs 175 crore in this project which has been sold 70 per cent so far,” he said, adding that flats are being sold in a price range of Rs 60 lakh to Rs 2 crore.

Elaborating on the partnership, Kumar said the company would be able to offer a complete energy management of the home to the buyers through this tie up. This would cost the company additional Rs 5 crore.

This would be the first project which is compliant to Machine-to-Machine (M2M) communication technology based green building in the country, he claimed.

Grihapravesh has completed 5 projects in Mumbai and Pune region and is currently working on three projects — two in Pune and one in Noida, comprising 1500 flats.

Gurgaon-based Radius Group is a technology firm involved in design, supply and operation of technology solutions in the areas of smart metering, advanced metering Infrastructure, home energy management and infrastructure management.