Realty agency Gaurs Group has bought practically 200 flats in its new luxurious housing tasks in Higher 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, Higher Noida.
“The primary section of the challenge has generated Rs 1,300 crore in gross sales, with practically 200 flats bought,” the corporate mentioned in an announcement 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 targeted 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 Higher Noida.
Just lately, Gaurs Group Chairman and Managing Director (CMD) Manoj Gaur mentioned, “We are going to quickly be launching a brand new housing challenge in Higher Noida. The challenge can have 12 lakh sq ft of developable space.” Gaur had mentioned the challenge price will likely be about Rs 750 crore, together with land and development prices.
The corporate had purchased this land situated from banks. Gaurs Group is already growing one challenge on the identical location.
Manoj Gaur, who can also be chairman of realtors’ apex physique CREDAI, mentioned the demand in Noida and Higher Noida stays sturdy, and there’s a lack of sufficient provide.
Final month, Gaurs Group mentioned it’s 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 belongings.
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 overall space will likely be about 5 million sq ft, of which 2.5 million sq ft will likely be retail, 2 million sq ft workplace and a lodge 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 begin 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 procuring malls, colleges, resorts, photo voltaic vegetation, and development.
