Assotech Realty expects Rs 120 cr rental income from Noida project

Assotech Realty is expecting to generate around Rs 120 crore rental income from its 20 lakh square feet commercial project in Noida, amid rise in demand for premium office space. The 14-acre commercial project was started in 2013 and was completed in 2022-end in phases. The company has given on lease 18,460 square feet office space to Celebal Technologies in Noida recently, Assotech Promoter MD Neeraj Gulati said. "We have completed our commercial project Assotech Business Cresterra in Sector 135 on Noida Expressway. The project has a leasable area of 20 lakh square feet," he said. Out of 20 lakh square feet, around 2.5 lakh square feet is serviced apartments (195 rooms) and 75,000 square feet of retail space. The rest is office space. Asked about investment to complete this project, Gulati said the total cost incurred to develop this project stood at Rs 650 crore. Gulati said the company has sold 80 per cent of the total area in this project and has retained 20 per cent. Howeve

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