New Modern Buildwell links with Fashion TV for `1,000-cr Lucknow proj

Real estate giant New Modern Buildwell Pvt Ltd has announced its association with Fashion TV to develop an ultra-luxury residential project in Lucknow. The tie-up aims to build a plush and premier real estate project on the lines of themed residential realty. 

New Modern Buildwell will be investing around Rs 1,000 crore in developing the project. The company’s earlier projects include  the NavYug Smart Mini City Allahabad, which is known for smart automated homes finely balanced with <g data-gr-id="24">eco friendliness</g>.

Elaborating on the association with Fashion TV, New Modern Buildwell Pvt Ltd Founder-CEO P N Misra said, “At New Modern Buildwell, we aim to create self-sustaining, employment-oriented, world-class settlements and residences using the latest technology, knowledge and skills. Our association with Fashion TV is another step towards providing homes which are a perfect combination of luxury and comfort.” He added, “India’s luxury real estate segment is the fastest growing in the sector with an investment portfolio totalling up to 40 <g data-gr-id="28">per cent</g> in the realty market across the nation. According to a recent KPMG report, luxury is the fastest growing segment in residential housing. Many were absorbed, fuelled by strong growth in the number of high net worth individuals (HNIs).”

New Modern Buildwell Private Ltd is a private company incorporated on July 11, 2005, with the aim of building settlements and townships using the latest technology, knowledge and skills. The company envisions being an instrument of positive change in the real estate industry and an active partner in India’s march towards <g data-gr-id="21">development</g> of smart agglomerates.