Gaurs Group to Invest Rs 1600 Crore in New Luxury Housing Project in Ghaziabad
Realty firm Gaurs Group to invest Rs 1,600 crore in new luxury housing project in Ghaziabad, Uttar Pradesh. Total sales value of Rs 3,100 crore generated from sale of 1,216 apartments.
Gaurs GroupLuxury Housing ProjectGhaziabadDelhincrReal Estate MarketReal Estate NewsSep 16, 2024
The total sales value generated from the sale of these apartments was a whopping Rs 3,100 crore, according to Gaurs Group Chairman and Managing Director (CMD) Manoj Gaur. The company received more than 3000 expressions of interest from customers who wanted to purchase, and to ensure transparency, the flats were allotted through a lottery conducted live on YouTube.
When asked about the project cost, Gaur said that the total investment will be around Rs 1,600 crore, out of which Rs 1,200 crore would be on pure construction activities. The total developable area is more than 30 lakh square feet. The company plans to meet the construction cost through internal accruals.
Sarthak Gaur, Director of Gaurs Group, attributed the strong demand for this project to the Group's credibility, delivery track record, and brand value. He also noted that it reflects the market's demand for premium living spaces in the Delhi-NCR region.
The project is located on an 11.8-acre plot along the Delhi-Meerut Expressway and consists of 10 towers, each 32 stories high. Gaurs Group has developed over 65 million sq ft and delivered 65,000 units in its three decades of operations. The Group has also ventured into allied verticals of shopping malls, schools, hotels, solar plants, and construction.
Gaurs Group has delivered 3 townships till date, out of which the notable one is Gaur City in Noida Extension, which is home to almost 30,000 families currently. Builders with a decent track record of executing projects are witnessing huge demand for their properties.
According to data analytic firm PropEquity, housing sales in Delhi-NCR rose to 10,198 units during April-June this year from 9,635 units in the year-ago period.
Gaurs Group is a leading real estate developer in India, with a strong presence in the Delhi-NCR region. The company has developed over 65 million sq ft of residential and commercial space and has delivered 65,000 units in its three decades of operations.
Information
The Indian real estate market has seen a significant boost in recent years, with demand for luxury housing projects on the rise. Gaurs Group's new project in Ghaziabad is set to cater to this demand, offering premium living spaces to customers in the Delhi-NCR region.
Frequently Asked Questions
How much has Gaurs Group invested in the new luxury housing project in Ghaziabad?
Gaurs Group has invested around Rs 1,600 crore in the new luxury housing project in Ghaziabad.
How many apartments have been sold in the project?
All 1,216 apartments in the project have been sold.
What is the total sales value generated from the sale of apartments in the project?
The total sales value generated from the sale of apartments in the project is Rs 3,100 crore.
What is the developable area of the project?
The total developable area of the project is more than 30 lakh square feet.
How many townships has Gaurs Group delivered till date?
Gaurs Group has delivered 3 townships till date.
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