NCR-based real estate developer Gaurs Group has acquired a land parcel in Jaypee Greens, Greater Noida, for Rs 200 crore where it plans to develop a luxury housing project. The land has been bought from IndusInd bank, the company said.
The transaction has been completed and the payments made to the bank. Gaurs Group will be developing close to 500 high-end apartments spread across 9 towers with sizes ranging from about 3700 sq ft upto 12000 sq ft, it said.
The delivered part of the township already houses about 1600 families. A 130-acre golf course is a part of the township.
“We are seeing a huge positivity and demand in the residential segment. People want bigger homes, better amenities and high-end lifestyle. So, we decided to launch an uber-luxury residential project. We are hopeful of achieving a topline of Rs 1500 crores with this luxury project,” said Sarthak Gaur, Director, Gaurs Group.Last year, Gaurs announced an investment of over Rs 10,000 crores in the next five years in the NCR. Gaurs Group has delivered more than 60,000 units since inception in 1995 out of which almost 40,000 property units have been delivered in the last seven years.