Gaurs Group Pours Rs 1600 Crore into Luxury Housing Project in Ghaziabad
Realty firm Gaurs Group is investing Rs 1600 crore in a new luxury housing project in Ghaziabad, Uttar Pradesh, amidst strong demand. The 12-acre development has already sold 1216 apartments, generating Rs 3100 crore in sales.
Gaurs GroupLuxury HousingGhaziabadReal EstateDelhincrReal EstateSep 16, 2024
The project's success can be attributed to the strong demand for luxury housing in the Delhi-NCR region. Gaurs Group Chairman and Managing Director, Manoj Gaur, highlighted that the company received over 3000 expressions of interest from customers who wanted to purchase apartments in the project. To ensure transparency, the company allotted the flats through a lottery conducted live on YouTube.
The total investment for the project will be around Rs 1600 crore, with Rs 1200 crore allocated for pure construction activities. The project has a total developable area of over 30 lakh square feet. Gaurs Group will meet the construction cost through internal accruals.
Sarthak Gaur, Director of Gaurs Group, attributed the strong demand for the project to the Group's credibility, delivery track record, and brand value.
Frequently Asked Questions
How much is Gaurs Group investing in the new luxury housing project?
Gaurs Group is investing Rs 1600 crore in the new luxury housing project.
How many apartments have been sold in the project?
All 1216 apartments in the project have been sold, generating Rs 3100 crore in sales.
What is the location of the project?
The project is located on an 11.8-acre plot along the Delhi-Meerut Expressway.
What is the total developable area of the project?
The total developable area of the project is over 30 lakh square feet.
How will Gaurs Group meet the construction cost of the project?
Gaurs Group will meet the construction cost through internal accruals.
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