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Gaurs Group to develop luxury project in Greater Noida at Rs 750-cr outlay

Thursday, 28 Nov 2024
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Gaurs Group has announced plans to invest approx. Rs 750 crore in developing a luxury residential project in Greater Noida. Situated in Jaypee Greens, the project will comprise around 250 high-end housing units spanning 12 lakh sq. ft. of developable area. The investment includes both land acquisition and construction costs, with the land having been acquired from banks.

This project is part of Gaurs Group's broader expansion strategy in the region, following their ongoing work on another project nearby. This move comes amid rising demand for residential properties in Noida and Greater Noida, creating an opportunity for high-end housing developments. Gaurs Group’s focus on luxury housing aligns with the growing market demand in the area.

In addition to the residential project, Gaurs Group is investing Rs 4,000 crore in a large-scale commercial project along the Noida Expressway. This Grade-A commercial development will span 17 acres and offer five million sq. ft. of space, including retail, office, and hotel facilities. The project will operate on a lease model to boost the company’s rental income, which currently exceeds Rs 125 crore annually. Construction for this commercial project is scheduled to begin next year.

The company's dual approach, focusing on both luxury residential and commercial developments, aims to meet growing market needs while enhancing its revenue streams. Additionally, the company is preparing for an Initial Public Offering (IPO) within the next 18 months to further strengthen its position in the market.

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