Gaurs Group goes for ₹1,000 cr new realty projects
A leading Indian realty building major, Gaurs Group has recently entered the affordable housing segment and has decided to invest ₹1,000 crore to develop two projects in the national capital region. The projects will house about 7,000 flats and will be developed in Greater Noida and Ghaziabad, Managing Director Manoj Gaur said. He further said adding that the price range of these flats will be in the range of ₹15-25 lakh and reiterated that the group is upbeat on the housing demand as it has been able to sell over 5,000 properties worth ₹2,000 crore during the last four months and manage to beat the slowdown in the real estate market. The company has 25 acre on Yamuna Expressway in Greater Noida and another 8 acre in Crossing Republic townships at Ghaziabad where it would construct flats including 2,000 apartments for the economically weaker section (EWS). After completing the construction work, the EWS flats would be handed over to the state government, which would allot to eligible beneficiaries at a cost of about ₹4.5 lakh, he insisted.
