The 3C Company, engaged in development of green buildings, on Friday said it will invest about Rs 500 crore to construct a high-end housing project in Noida.

The project - Lotus Boulevard Espacia -will be build on a 10-acre land and will comprise 650 apartments ranging between 1,950 sq ft and 2,550 sq ft.

“The project cost to develop this project will be about Rs 500 crore,” company’s Director Surpreet Suri said. The project has been launched at Rs 3,150 per sq ft, he added.

The investment would be funded through internal accruals and advances from customers, he said, adding the project would be completed in the next three years.

“The project will be equipped with energy efficient mechanical and electrical equipment. The layout of flats is being designed to ensure that they are more spacious, airy and set amid greens,” Mr. Suri said.

Adjacent to this project, the company is developing a 30-acre housing project comprising 3,000 apartments.

The project ‘Lotus Boulevard’ was launched in the first week of August and 1,500 apartments have been sold so far.

The Noida-based firm has delivered 12 million sq ft of office space based on green concept. It is developing an IT SEZ in Noida covering 3.3 million sq ft.

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