Renox Group Acquires Nivas Promoters, Set to Invest 300 Cr in Renox Thrive

Greater Noida, May 22, 2025: Renox Group has completed the acquisition of Nivas Promoters. The group will invest INR 300 crore on 3.30 acres of the erstwhile promoter, situated in Sector 10, Greater Noida West, to develop Renox Thrive, a new and luxurious group housing project.

Renox Group has already liquidated the project-related liabilities of Nivas Promoters by fulfilling the terms and conditions of the competent institutions.

According to Shailendra Sharma, Chairman, Renox Group, “In this way, Renox Group successfully protected the interests of all the stakeholders of the real estate sector before the development of the project. The old allottees of the project, who were stuck for about 12 years, got their stuck investment so that they could use their money as per their wish. The claims of financial institutions were paid, which reduced the NPAs.”

He added further that the approval of new maps and layouts was obtained by paying the dues to the development authority. Finally, by getting the liabilities and claims resolved and payments verified in UP RERA, the registration of the old project was cancelled and the registration of the new project, Renox Thrive, secured. It has state-of-the-art amenities and a future-ready residential project.

“Initially, we have invested INR 120 crore in Renox Thrive, which includes complete demolition of the decade-old construction and commencement of the new construction as per the new approved plan.”

The remaining investment will be raised by the institution itself and through the sale. Even after the permissible FAR of 3.5, the project will have only 25 floors to keep it a limited-density project. “We are providing more than two dozen world-class facilities keeping in mind the preferences of all age groups, especially the youth,” Sharma further added.

In terms of location, Renox Thrive is connected with a 130-metre road of Noida Extension in Sector 10, which is known as Rajesh Pilot Chowk. The plot is three-sided open, surrounded by 24-metre roads from two sides and a park from the third side.

On the other side of the road, there is an authority park and a row of G+4 houses, due to which the project is completely open. These towers are being developed on a stilt base with G+25 floors, in which double basement parking will be available to provide covered parking for all units. The project has 4 towers in which units of 3 and 4 BHK will be constructed and each floor will have only 4 units.

To make its mark in Greater Noida West/ Noida Extension, Renox Thrive is being developed based on Mi-One or aluminum shuttering to provide world-class quality in construction.

The project is 100 per cent Vaastu compliant so that all the residents get a feeling of happiness, prosperity, peace and enjoy an evergreen life.

As per IGBC standards, the project has been provided abundant greenery, open areas, rainwater harvesting, sewer treatment facility, theme parks and equipped with ultra-modern gym, multi-purpose indoor and outdoor sports venues, open theatre, yoga and meditation venues and jogging tracks so that the residents could upgrade their lifestyle without any compromise.

Keeping in mind the diversity and convenience of the residents, the project will be provided with high quality and efficient lifts, huge club, banquet hall, separate swimming pools for adults and children, 24×7 power back-up, multi-level security system, commercial plaza, double height lobby area for visitors, units with 12 feet ceiling, large sliding doors for natural air and light in the units, electrical equipment, pipes, fittings, fixtures and other products as per ISI standards.

Loan facility is being provided in the project from banks like Indian Bank, Canara Bank, Punjab and Sindh Bank, UCO Bank and HDFC. The RERA registration number of Renox Thrive is UPRERAPRJ742692/09/2024 and its completion date is April 2029. Complete information about the project can be seen on the RERA portal, www.up-rera.in.

Apart from Renox Thrive, Renox Group is also developing Navrang Square Mall on the city’s busiest GT Karnal Road, Ghaziabad, which will have facilities like retail, commercial, multiplex, food court, gaming zone, etc.

The group has already delivered four real estate projects, including Lotus Shristi (Crossings Republic), Lotus Park and Lotus Villa (residential projects in Greater Noida) and Avantika Retail Street (commercial project in Ghaziabad).