Smartworld Developers Acquires 6-Acre Land Parcel in Sector 98, Noida for ₹414 Crore via Auction, Plans ₹2,000 Crore Mixed-Use Development
Strategic Land Acquisition Signals Smartworld's Expansion into Noida Market
Gurugram-based Smartworld Developers on Thursday acquired a 6-acre land parcel in Sector 98, Noida through an auction, announcing its entry into the city's market. The acquisition bid was made at Rs 414 crore.
This marks the company's first acquisition outside its established Gurugram base. According to industry sources, the Gurugram-based developer has secured approximately 24,000 square metres of prime land, equivalent to nearly 6 acres, in one of Noida's emerging premium real estate zones.
Mixed-Use Development in Sector 98
The company plans a mixed-use development comprising premium branded residences, high street retail and serviced homes, with a total development cost of Rs 2,000 crore, and the gross sale value projected at over Rs 3,000 crore.
Sources close to the development have indicated that Smartworld Developers is exploring a potential partnership with a globally recognised brand to co-develop luxury branded residences on the newly acquired site.
Sector 98: Location and Market Context
Sector 98 is the growing residential and commercial hub of Noida and features an array of real estate projects from the leading real estate developers in India, with seamless connectivity via Noida - Greater Noida Expressway, Mahamaya Flyover and the Yamuna Expressway. The Skymark One in Sector 98 is one of the biggest business centres in Noida and hosts Paytm Office, Network-18 Office, PwC Office, Jubilant Food Works, along with numerous cafes and restaurants.
The region is expected to benefit significantly from upcoming infrastructure projects including the Jewar Airport and expressway upgrades that are transforming connectivity and property markets across the belt.
Smartworld's Track Record and Growth
Incepted in 2021, Smartworld Developers is backed by reputed organisations, financially robust founders and envisages transforming the real estate scenario and setting benchmarks through its vision of building world-class real estate assets in India.
Following the successful delivery of its inaugural projects Smartworld Orchard, Smartworld Gems, and Smartworld Orchard Street along with three ongoing developments across Gurugram, Trump Residences Gurgaon marks Smartworld Developers' seventh development and its strategic entry into the ultra-luxury branded residences segment.
Smartworld Developers clocked Rs 6,400 crore worth of sales bookings last fiscal year, a remarkable 60 per cent annual growth. Gurugram-based Smartworld Developers has delivered around 6.5 million sq ft to date, and another 20 million sq ft is currently under construction.
The company remains debt-free and financially strong, supported by healthy cash flows that are fuelling aggressive expansion.
Strategic Timing Ahead of IPO
The acquisition, valued at ₹414 crore, marks a strategic milestone for the company as it prepares for a planned initial public offering in the upcoming fiscal year. Industry observers have noted that this project could have a substantial socio-economic impact on the region, potentially attracting retail and hospitality players while positioning Sector 98 as a premium destination in the Delhi-NCR luxury property market.