Noida-based real estate developer Bhasin Group will develop 33-floor retail-cum-office tower in Sector 143, Noida in just 99 days. The company will make the building with an investment of Rs 150 crore and has tied up with Jindal Steel & Power Limited. The tower named Mist is a part of the 25-acre commercial project çalled Festival City. The facade work is being done by applying G-panels, which are being supplied by the American Company JB Fabs.
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“This tower, being constructed by Rapid Structures LLC will be the tallest and fastest building made of composite steel in India,” said SS Bhasin, managing director, Bhasin Group, adding, “This technology will also improve the viability of doing business, giving better returns to all the stakeholders. Moreover, it will mitigate development risk by cutting down the time and will substantially decrease overheads and cost overruns.”
The company started the construction of the tower in October 21, 2015 and aims to complete it by January 29, 2016 and has placed a total order of Rs 35 crore to procure steel from Jindal Steel & Power for the tower, while the complete order for the entire project would amount to around Rs 200 crore. Around 3,000 tonnes of the highest grade of steel will be used for this project. “This is the first time E550 grade of steel is being used for construction purposes in real estate,” said VK Mehta, director-sales and marketing at Jindal Steel & Power.