Noida-based Gaurs Group has acquired a land parcel in Jaypee Greens in Noida for Rs 200 crore to develop a luxury group housing complex.
“We are seeing huge demand in the residential segment. People want bigger homes, better amenities and a high-end lifestyle. So, we decided to launch an uber-luxury residential project," said Sarthak Gaur, Director, Gaurs Group.
The fully-paid licensed land was with the Induslnd Bank and the company is now awaiting the Real Estate Regulatory Authority’s approval to start the project. There are multiple land parcels inside the Jaypee Greens complex which are with the bank following the default by the builder. The land parcel had been put on sale by the bank.
The 500 high-end apartments will be spread across nine towers, with sizes ranging from about 3700 sq ft to 12,000 sq ft.
Jaypee Greens is a luxury golf township. The delivered township houses about 1,600 families in upmarket villas and apartments.
“It is the best location in Delhi-NCR (National Capital Region) or maybe north India where one will get to live right on an existing 18-hole international standard golf course. Replete with all the high-end features, luxury can’t get better than this. We are hopeful of achieving a top line of Rs 1,500 crore with this luxury project,” said Gaur.
Last year, Gaurs Group announced an investment of about 10,000 crore in the next five years in the NCR.
Gaurs Group has delivered more than 60,000 units since its inception in 1995, out of which almost 40,000 units have been delivered in the past seven year
