Realty agency Gaurs Group has bought practically 200 flats in its new luxurious housing initiatives in Larger Noida for Rs 1,300 crore amid sturdy client demand.
Gaurs Group has launched a luxurious residential venture ‘Legacy by Gaurs’, comprising round 250 items, at Jaypee Greens, Larger Noida.
“The primary section of the venture has generated Rs 1,300 crore in gross sales, with practically 200 flats bought,” the corporate mentioned in a press release on Saturday.
The venture 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 centered not solely on delivering houses 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 venture in Larger Noida.
Just lately, Gaurs Group Chairman and Managing Director (CMD) Manoj Gaur mentioned, “We are going to quickly be launching a brand new housing venture in Larger Noida. The venture could have 12 lakh sq ft of developable space.” Gaur had mentioned the venture value might be about Rs 750 crore, together with land and building prices.
The corporate had purchased this land positioned from banks. Gaurs Group is already creating one venture on the similar location.
Manoj Gaur, who can also be chairman of realtors’ apex physique CREDAI, mentioned the demand in Noida and Larger Noida stays sturdy, and there’s a lack of enough provide.
Final month, Gaurs Group mentioned it’s going to develop a 17-acre industrial venture 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 business house within the upcoming Grade-A venture.
“We’re planning to develop a big industrial venture on Noida Expressway. The whole space might be about 5 million sq ft, of which 2.5 million sq ft might be retail, 2 million sq ft workplace and a lodge with greater than 300 keys,” Manoj Gaur had mentioned.
The corporate will develop the venture on a lease mannequin to spice up its annual rental earnings that presently stands at greater than Rs 125 crore.
The corporate is concentrating on to start out building of this industrial venture 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 purchasing malls, faculties, resorts, photo voltaic crops, and building.