Gulshan Group to invest Rs 1,000 cr on new housing project in Ghaziabad

Realty firm Gulshan Group will invest Rs 1,000 crore to develop a housing project in Ghaziabad as part of its expansion plan.

The Delhi-NCR-based company has launched a 5.5-acre luxury housing project 'Gulshan Empire' at Wave City township in Ghaziabad. It will build 500 homes in upcoming projects, expected to be completed within four years.

"We bought this land parcel from Wave Group for around Rs 175 crore. We are developing a premium housing project on this site. The total project cost is Rs 1,000 crore," Gulshan Group Director Deepak Kapoor told reporters.


He said the company is selling homes prices starting from Rs 2.2 crore. The per sq ft selling price is Rs 10,500. The company will meet investment from internal accruals and loans from financial institutions.

Kapoor noted that the demand continues to be strong in Noida, Greater Noida, and Ghaziabad markets from both end users and investors, amid lack of good quality supply.

Yukti Nagpal, Director of Gulshan Group, said, "Today's homebuyers are making more informed decisions, with equal emphasis on quality, design, location and the overall living experience."

In the last three decades, Gulshan Group has delivered over 10 million sq ft of residential and commercial developments across Delhi-NCR.