Pune: Migsun Group plans to invest Rs. 350 crores in a studio apartment project in Lucknow, expanding its residential development presence in the city. The project will come up next to Medanta Hospital and is aimed at meeting rising demand for compact residential-cum-commercial spaces.
The development will be spread across approximately 5 acres of land, which is entirely owned by Migsun Group. The company plans to finance the project through its own sources as well as customer advances, with completion targeted within 3 years.
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The project’s location near Medanta Hospital places it in one of Lucknow’s key development areas. According to the company, the studio apartment format is intended to address demand for professionally designed compact residences while offering potential rental opportunities.
Studio Apartment Project to Strengthen Lucknow Presence
Migsun Group expects the development to cater to both residential users and investors seeking compact properties in a high-demand micro-market. The company has also positioned the project around the city’s expanding economic and healthcare ecosystem.
“Lucknow has become one of our most important growth markets and this launch further strengthens our presence in the city. The response to our projects in Lucknow has reinforced our confidence in the market’s long-term potential. With this studio apartments project adjoining Medanta, we are introducing an address that will fulfill the growing demand for professionally designed compact residences in a high-demand micro-market. Given its strategic location and the city’s expanding economic and healthcare ecosystem, we are confident the project will appeal to both end-users and investors looking for stable long-term value,” says Yash Miglani, Managing Director, Migsun Group.
The company said the project is expected to offer high rental value, with its location and compact residential format forming key aspects of its investment proposition.
Migsun Group’s North India Portfolio
Migsun Group has completed over 40 projects and has established a presence across North India’s real estate market. The company has identified quality, timely delivery and innovation as key areas of its development approach.
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With completed projects as well as a pipeline of future developments, Migsun Group is continuing to expand its presence in the regional real estate market. The Lucknow studio apartment project represents another addition to its development pipeline in the city, with delivery planned within 3 years.`
