Gaurs Group acquires Rs 200 crore worth of land from IndusInd Bank

NEW DELHI: Realty firm Gaurs Group on Wednesday said it has acquired a land parcel in Jaypee Greens township in Greater Noida for Rs 200 crore to develop a luxury housing project.

The land amidst the luxurious golf-centric township has been bought from IndusInd Bank. The transaction has already been done and the payments have already been made to the bank, the company said in a statement.

Gaurs Group will be developing close to 500 luxury apartments in 9 towers with sizes ranging from about 3,700 sq ft up to 12,000 sq ft.

''We are seeing a huge positivity and demand in the residential segment. People want bigger homes, better amenities and high-end lifestyle. So, we decided to launch an uber-luxury residential project,'' Sarthak Gaur, Director, Gaurs Group said.

''We are hopeful of achieving a topline of Rs 1,500 crore with this luxury project,'' he added.

Jaypee Greens is an uber luxury golf township. It already houses about 1,600 families.

Last year, Gaurs announced an investment of over Rs 10,000 crore in the next five years in NCR.

The group has delivered more than 60,000 units since inception in 1995. Out of these, almost 40,000 property units have been delivered in the last seven years.

Gaurs group has already delivered massive township like Gaur City, spread over 237 acres which is home to almost 29,000 families now. The group is also developing another township, Gaur Yamuna City, near the upcoming Noida International Airport at Jewar, which is being developed in 250 acres.