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Noida-based Gaurs Group has made a significant foray into the real estate sector with a substantial acquisition. They have recently purchased 18 acres of prime land in Sector 129 of Noida, as well as a stalled project in Jaypee Greens, Greater Noida. The total cost of this strategic acquisition is approximately Rs 700 crore.
This move marks a significant investment by Gaurs Group in prime real estate locations, indicating their commitment to further expansion and development in the real estate sector. These acquisitions are poised to have a considerable impact on the real estate landscape in the National Capital Region (NCR).
The land acquired in Noida's Sector 129 is earmarked for a Grade-A retail and office project. This strategic decision is in line with the group's vision to develop top-notch commercial spaces in high-demand areas. Given its location on the main Noida Expressway, this land offers immense potential for residential, office, and retail developments. Manoj Gaur, Chairman of Gaurs Group, expressed his optimism about the project, emphasizing the prominent location and the opportunities it presents.
In Jaypee Greens, Greater Noida, Gaurs Group plans to revive and complete two stalled residential towers. Additionally, they aim to create an additional 1.5 million square feet of space in this prime locality. This move aligns with their strategy to cater to the demand for quality residential spaces in the region.
Manoj Gaur, Chairman of Gaurs Group, confirmed the acquisitions and underlined the strategic importance of both locations. He mentioned that the land in Sector 129, Noida, is strategically positioned on the main Noida Expressway, making it ideal for a mixed-use development that includes residential, office, and retail components. This forward-thinking approach reflects Gaurs Group's commitment to creating comprehensive, integrated spaces that cater to diverse needs.
This latest development builds upon Gaurs Group's previous initiatives in the real estate market. In the previous year, they acquired a land parcel in Jaypee Greens for Rs 200 crore, with the intention of developing a luxury group housing complex. Known as 'The Island,' this ambitious project spans 1.3 million square feet and involves an additional investment of Rs 500 crore. The recent acquisition in Jaypee Greens complements their existing project in the vicinity, showcasing their strategic expansion within this prominent region.
Gaurs Group has been a proactive player in the real estate sector, with a commitment to delivering quality projects and contributing to the growth of the NCR's real estate landscape. They had previously announced ambitious investment plans of around Rs 10,000 crore over a five-year period in the National Capital Region. This reaffirms their dedication to significant growth and development in the real estate sector, making them a key player to watch.
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