Gaurs Group is selling around 200 luxury homes for Rs 1,300 in its new project in Greater Noida.
Realty firm Gaurs Group has sold around 200 flats in its luxury housing projects in Greater Noida for Rs 1,300 crore amid strong buyer demand.
Gaurs Group has launched a luxury residential project ‘Legacy by Gaurs’, comprising around 250 units, at Jaypee Greens, Greater Noida.
“The first phase of this project has generated an estimated amount of Rs 1,300 crore, as nearly 200 flats have been sold,” said the company’s statement on Saturday.
The project has open living areas in two configurations: 3,500 sq ft and 4,700 sq ft, in all four towers, comprising a total of 250 apartments.
Gaurs Group Director Sarthak Gaur said, “The overwhelming response to ‘Legacy by Gaurs’ is a true reflection of the trust and confidence that buyers have in us. For over 30 years, we have focused not only on delivering housing but also on creating long-term value for our customers.” He said the group has delivered about 50,000 units in the last decade alone.
Gaurs Group will invest around 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 launch a new housing project in Greater Noida. This project will have 12 lakh sq ft of developable area.” Gaur said the cost of the project would be Rs 750 crore, including land and construction costs.
This company had bought this land from banks. Gaurs Group is already building one project in the same area.
Manoj Gaur, who is also the chairman of the apex body CREDAI, said that the demand in Noida and Greater Noida remains strong, and there is a shortage of supplies.
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 properties.
The company will develop 5 million (50 lakh) sq ft of commercial space in the upcoming Grade A project.
“We are planning to develop a large commercial project on Noida Expressway. The total area will be around 5 million sq ft, of which 2.5 million sq ft will be retail, 2 million sq ft offices and a hotel with more than 300 keys,” Manoj said. Gaur.
The company will develop the project through a lease model to increase its annual rental income which is currently over Rs 125 crore.
The company intends to start building this commercial project next year.
Gaurs Group — one of the leading real estate developers in Delhi-NCR — plans 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 entered the conglomerates of shopping malls, schools, hotels, solar plants and construction.
