Realty agency Gaurs Group has bought practically 200 flats in its new luxurious housing initiatives in Larger Noida for Rs 1,300 crore amid sturdy shopper demand.
Gaurs Group has launched a luxurious residential challenge ‘Legacy by Gaurs’, comprising round 250 items, at Jaypee Greens, Larger Noida.
“The primary part of the challenge has generated Rs 1,300 crore in gross sales, with practically 200 flats bought,” the corporate mentioned in a press release on Saturday.
The challenge options spacious residences in two configurations: 3,500 sq ft and 4,700 sq ft, throughout 4 towers, comprising a complete of about 250 flats.
Gaurs Group Director Sarthak Gaur mentioned, “The overwhelming response to ‘Legacy by Gaurs’ is a real reflection of the belief and confidence homebuyers have in us. For over 30 years, we have centered not solely on delivering properties however on creating long-term worth for our clients.” He mentioned the group has delivered practically 50,000 items within the final decade alone.
Gaurs Group will make investments about Rs 750 crore to develop this luxurious housing challenge in Larger Noida.
Lately, Gaurs Group Chairman and Managing Director (CMD) Manoj Gaur mentioned, “We are going to quickly be launching a brand new housing challenge in Larger Noida. The challenge can have 12 lakh sq ft of developable space.” Gaur had mentioned the challenge value will probably be about Rs 750 crore, together with land and development prices.
The corporate had purchased this land situated from banks. Gaurs Group is already creating one challenge on the identical location.
Manoj Gaur, who can be chairman of realtors’ apex physique CREDAI, mentioned the demand in Noida and Larger Noida stays sturdy, and there’s a lack of enough provide.
Final month, Gaurs Group mentioned it is going to develop a 17-acre industrial challenge in Noida with an funding of Rs 4,000 crore as a part of its technique to construct rental property.
The corporate will develop 5 million (50 lakh) sq ft of economic house within the upcoming Grade-A challenge.
“We’re planning to develop a big industrial challenge on Noida Expressway. The whole space will probably be about 5 million sq ft, of which 2.5 million sq ft will probably be retail, 2 million sq ft workplace and a resort with greater than 300 keys,” Manoj Gaur had mentioned.
The corporate will develop the challenge on a lease mannequin to spice up its annual rental revenue that at the moment stands at greater than Rs 125 crore.
The corporate is focusing on to start out development of this industrial challenge subsequent 12 months.
Gaurs Group — one of many main actual property builders in Delhi-NCR — is planning to launch its preliminary public providing within the subsequent 18 months.
With a legacy spanning over three many years, Gaurs Group (previously Gaursons India Ltd) has developed over 65 million sq ft and delivered 65,000 items.
The group has additionally ventured into allied verticals of purchasing malls, faculties, inns, photo voltaic crops, and development.
