Real estate developer Gaurs Group plans to construct over 1,200 mid-luxury apartments near the Delhi-Meerut Expressway (National Highway 24) in Ghaziabad, investing as much as Rs 1,000 crore, said CMD Manoj Gaur.
The residential project is likely to be launched by the end of the year.The project will come up in Wave City located along NH-24, also known as the Delhi-Meerut Expressway. However, Gaur did not divulge the size of the land to be used for the project.
The plan is to develop the project over the next five years. The price of the apartments will depend on market conditions, but it will be kept under the affordable luxury range
The group, based in Ghaziabad, is open to expanding to tier 2 and 3 cities but is proceeding cautiously on this front. He said there is demand in the smaller cities and while the group is willing to consider expanding to these areas in the residential and commercial segments, there are no immediate plans or proposals to do so.
