Gaurs Group Invests Rs 1600 Crore in Luxury Housing Project, Gaur NYC Residences
Gaurs Group's new luxury housing project, Gaur NYC Residences, witnesses unprecedented demand with all 1,216 apartments sold within three days of its launch.
Real EstateLuxury HousingGaurs GroupGaur Nyc ResidencesDelhincrReal Estate MumbaiSep 15, 2024
Gaurs Group's Chairman and Managing Director, Manoj Gaur, revealed that the project garnered over 3,000 expressions of interest from potential buyers. To maintain transparency, flats were allotted via a lottery conducted live on YouTube. The total sales value generated from the project stands at Rs 3,100 crore.
Sarthak Gaur, Director of Gaurs Group, attributed the strong demand to the company's credibility and brand value. The project, situated along the Delhi-Meerut Expressway, features 10 towers with 32 stories each, covering a developable area of more than 30 lakh square feet.
Gaurs Group plans to finance the construction cost through internal accruals, focusing on meeting the rising demand for premium living spaces in the Delhi-NCR region.
Gaurs Group is a well-established real estate company with a strong presence in the Delhi-NCR region. The company has developed several successful projects in the past, including residential, commercial, and retail spaces.
The investment in Gaur NYC Residences is a testament to Gaurs Group's commitment to providing premium living spaces to its customers. The project is expected to be completed within the next few years, and the company is confident that it will be a landmark development in the region.
Information
Gaurs Group is a leading real estate company in India, with a strong presence in the Delhi-NCR region. The company was founded by Manoj Gaur and has since developed several successful projects in the region. Gaurs Group is known for its commitment to quality and customer satisfaction.
Gaurs Group is a well-established real estate company with a strong presence in the Delhi-NCR region. The company has developed several successful projects in the past, including residential, commercial, and retail spaces. Gaurs Group is committed to providing premium living spaces to its customers and is known for its quality and customer satisfaction.
Frequently Asked Questions
What is the investment amount announced by Gaurs Group for the luxury housing project?
Gaurs Group has announced an investment of approximately Rs 1,600 crore for the luxury housing project, Gaur NYC Residences.
How many apartments were sold within three days of the project's launch?
All 1,216 apartments were sold within three days of the project's launch.
What is the total sales value generated from the project?
The total sales value generated from the project stands at Rs 3,100 crore.
How will Gaurs Group finance the construction cost of the project?
Gaurs Group plans to finance the construction cost through internal accruals.
What is the expected completion time for the project?
The project is expected to be completed within the next few years.
Related News Articles
Mumbai Real Estate Developer and CEO Embroiled in ₹13.65 Crore Fraud Case
A Mumbai-based real estate developer and CEO have been booked for allegedly forging documents and duping a partner of ₹13.65 crore in a Bhandup land deal.
Mumbai Property Registration Revenue Surges 52% YoY to Rs 1,081 Crore This Diwali
According to data from the Inspector General of Registration (IGR), Maharashtra, property registrations in Mumbai witnessed a remarkable 22% year-over-year increase, with 11,861 homes registered in October 2024, compared to 9,736 in November 2023.
AI Bubble Deflating: Zoho's Sridhar Vembu Stresses Importance of Real Engineering Work
Zoho CEO Sridhar Vembu discusses the potential deflation of the AI bubble and emphasizes the enduring importance of real engineering work in the tech industry.
ED Seizes ₹19.61 Crore from Karrm Developers Linked to Vivek Oberoi in Real Estate Scandal
The Enforcement Directorate (ED) in Mumbai has taken action against Karrm Developers, a real estate firm associated with actor Vivek Oberoi, by seizing assets worth ₹19.61 crore. The action is part of an ongoing investigation into financial misconduct in the affordable housing sector.
Mumbai Sees Record-Breaking Property Registration in March 2025
Mumbai witnessed a surge in property registration in March 2025, driven by the impending hike in reckoner rates set to take effect from April 2025. This surge highlights the robust demand in the city's real estate market.
Private Equity Investments Fuel 133% Surge in Real Estate Deal Volumes in Q1 2025
Real estate deal volumes soared by 133% in the first quarter of 2025, driven predominantly by private equity (PE) investments, which accounted for 88% of the total transactions.