NCR-based Gaurs Group expects a revenue of around ₹3000 crore from its ultra-luxury project in Ghaziabad

NCR-based real estate developer Gaurs Group expects a gross revenue of ₹3,000 crore from the sale of ultra-luxury units in the project that it will be coming up with in Ghaziabad, the company said in a statement.

As many as 1200 housing units will be offered in the project being developed along the Delhi-Meerut Expressway (National Highway 24) in Ghaziabad at a starting price of ₹2.5 crore, the company said on August 30.

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The construction cost of the project, excluding land and other costs, will be around ₹1300 crore. The RERA approval has been received, and the construction process has already started, the company said.

The project is expected to come up on a land parcel (within the Wave City) spread across an area of 12 acres, the company said.

The project is currently in its pre-launch phase and has received expressions of interest (EOIs) from more than 3,000 interested customers against 1,200 units, the company said.

“The project has been over subscribed three times within hours of receiving the RERA approval,” the company said in a statement.

Branded as Gaur NYC Residences, this will be Ghaziabad’s first ultra-luxury residential project, designed to reflect New York-style living. The project offers about 1200 luxury apartments in 4 configurations with a starting price of about ₹2.5 crore. This is the Group’s third ultra-luxury project.

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Project details

The project will include a clubhouse inspired by Madison Square and a 118-meter-long swimming pool. Spanning 11.80 acres, Gaur NYC Residences will consist of 10 towers, each rising to 32 floors, and offer 4 bedroom, 4 bedroom plus servant configurations, the company said.

“The response we have received for the project only speaks about our commitment to timely deliveries. We are committed to taking Gaur NYC Residences into the league of NCR’s iconic residential projects,” said Sarthak Gaur, director, Gaurs Group.

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