Gaur Group goes for ₹750-cr realty projects

In a bid to add to its project portfolio in the realty sector, Gaurs Group has decided to invest ₹750 crore over the next three years to develop commercial projects in Greater Noida. The company will develop 12 lakh sq ft areas in the project 'Gaur World Street', which will be mixed use commercial project comprising office and retail space as well as hotel. The Group has recently completed the construction of 'Gaur City Mall' comprising 15 lakh sq ft area with an investment of ₹750 crore in Greater Noida. It expects to earn a rental income of around ₹75 crore per annum from the project. The company has already developed 'Gaur Central Mall' at Raj Nagar District Centre in Ghaziabad and is developing a 240-acre township 'Gaur City' with an investment of ₹8,000 crore in the same area. It is also developing another township on Yamuna Expressway on a 250-acre land which it purchased from Jaypee Group in 2013, said an official spokesperson.