Migsun Group plans to invest Rs 700 crores in developing SEZ in Greater Noida

Delhi NCR: Realty developer Migsun Group announced that it will invest about Rs 700 crore in a Special Economic Zone (SEZ) by developing warehousing, a data centre and IT space in Greater Noida. The development will be 4 million square feet. 

The Migsun acquired the SEZ by taking Ansal’s stake in the Ansal IT City Park (SEZ) Tech Zone and bought a 37% stake of HDFC for Rs 50 crores. 

The development of a 37.5-acre mixed-use project which will have built-to-suit commercial, IT, and industrial units, is also in the planning stages.

“We have completed the master planning of the project and will start the construction soon. There will be 10 lakh (1 million) sq ft of warehousing, 16 lakh sq ft of data centre and about 18 lakh sq ft of IT office space spread across six towers,” said Yash Miglani, Managing Director, Migsun.

In the NCR region, Migsun Group is developing 16 projects across residential and commercial verticals.

“We are in talks with leading players for warehouse leasing. We will keep the rental at Rs 20 per sq ft across categories, be it office or data centre,” Miglani said.

The 700 crores worth project will provide 50% IT/ITeS offices and commercial and industrial space of 15% each.