Gaurs Group will invest about Rs 750 crore to develop this luxury housing project in Greater Noida.
Realty firm Gaurs Group has sold nearly 200 apartments in its new luxury housing projects in Greater Noida for Rs 1,300 crore amid strong consumer demand.
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Gaurs Group has launched a luxury residential project ‘Legacy by Gaurs’, comprising around 250 units, at Jaypee Greens, Greater Noida.
“The first phase of the project has generated Rs 1,300 crore in sales, with nearly 200 apartments sold,” the company said in a statement on Saturday.
The project features spacious residences in two configurations: 3,500 sq ft and 4,700 sq ft, across four towers, comprising a total of about 250 apartments.
Gaurs Group Director Sarthak Gaur said, “The overwhelming response to ‘Legacy by Gaurs’ is a true reflection of the trust and confidence homebuyers have in us. For over 30 years, we’ve focused not only on delivering homes but on creating long-term value for our customers.” He said the group has delivered nearly 50,000 units in the last decade alone.
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Gaurs Group will invest about Rs 750 crore to develop this luxury housing project in Greater Noida.
Recently, Gaurs Group Chairman and Managing Director (CMD) Manoj Gaur said, “We will soon be launching a new housing project in Greater Noida. The project will have 12 lakh sq ft of developable area.” Gaur had said the project cost will be about Rs 750 crore, including land and construction costs.
The company had bought this land located from banks. Gaurs Group is already developing one project at the same location.
Manoj Gaur, who is also chairman of realtors’ apex body CREDAI, said the demand in Noida and Greater Noida remains strong, and there is a lack of adequate supply.
Last month, Gaurs Group said it will develop a 17-acre commercial project in Noida with an investment of Rs 4,000 crore as part of its strategy to build rental assets.
The company will develop 5 million (50 lakh) sq ft of commercial space in the upcoming Grade-A project.
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“We are planning to develop a large commercial project on Noida Expressway. The total area will be about 5 million sq ft, of which 2.5 million sq ft will be retail, 2 million sq ft office and a hotel with more than 300 keys,” Manoj Gaur had said.
The company will develop the project on a lease model to boost its annual rental income that currently stands at more than Rs 125 crore.
The company is targeting to start construction of this commercial project next year.
Gaurs Group — one of the leading real estate developers in Delhi-NCR — is planning to launch its initial public offering in the next 18 months.
With a legacy spanning over three decades, Gaurs Group (formerly Gaursons India Ltd) has developed over 65 million sq ft and delivered 65,000 units.
The group has also ventured into allied verticals of shopping malls, schools, hotels, solar plants, and construction.
