NCR-based real estate developer, Migsun Group, has made its mark in Lucknow with a significant land acquisition from Medanta, paving the way for a mixed-use project valued at Rs 426 crore. Named 'Migsun Lucknow Central', the project boasts a strategic location along Shaheed Path in Lucknow, covering approximately 20,239 square meters of land.
This development, which includes high street retail spaces, a food court, and studio apartments, has garnered approval from the Real Estate Regulatory Authority (RERA), signaling a green light for construction and sales.
Yash Miglani, Managing Director of Migsun Group, expressed optimism about the venture, citing the success of their previous project, Migsun Janpath, as a testament to their capabilities in the region. With prices starting at approximately Rs 49 lakh per unit, the first phase of Migsun Lucknow Central has launched around 500 units, aiming to replicate the success of its predecessor.
Miglani highlighted that the project would be financed through a combination of internal accruals and customer advances. It is slated for execution in multiple phases over a timeline of 36 months, with the initial phase scheduled for completion and handover to buyers in 2027. Having undertaken over 40 projects in Delhi-NCR, Migsun Group's expansion into Lucknow reflects their commitment to furthering their footprint in the real estate sector. This venture not only marks a significant investment in Lucknow's real estate market but also highlights Migsun Group's confidence in the region's potential for growth and development.
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