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Real estate giant Gulshan Homz has acquired an enormous 2.5-acre plot of property in the valued Sector 129, Noida. This prime location in the National Capital Region has been the focal point of a Rs 150 crore deal with a prominent bank, according to reliable sources.
With a commercial project in the same industry, Gulshan Homz, a prominent player already plans the development of the one million square feet on this recently purchased area. The director of Gulshan Homz, Deepak Kapoor, stated that the land rights transfer procedure was completed and expressed excitement as the design phase began.
Interestingly, these land parcels were part of Jaypee townships in Noida and Greater Noida, gaining attention from various developers after financial institutions took control due to loan defaults and insolvency issues faced by the builder. Despite over 20,000 homebuyers awaiting delivery, companies like Max, L&T, Gaurs, Saya, CRC, Paras, and Gulshan have collectively invested over Rs 3,000 crore, initiating projects with a revenue potential exceeding Rs 10,000 crore in the past year.
The area along the Noida Expressway, where Gulshan Homz has made this acquisition, has witnessed a doubling of prices within a year. Industry experts attribute this rise to the growing demand for retail and office developments along the highway, while upscale residential properties are finding their place within the Jaypee townships.
In addition to their Noida expansion, Gulshan Homz is venturing into Moradabad, Uttar Pradesh, addressing the demand from tier 2 cities. Partnering with a local entity, they are developing 90 apartments in a community villa project, catering to the paying capacity of the Moradabad populace. Each of the 8,500 sq ft villas is priced at Rs 7.5 crore, and the company is poised to invest Rs 450 crore in this promising venture.
Gulshan Homz's move to diversify its portfolio by simultaneously expanding in Noida and growing the market of tier 2 cities positions it as a key player to watch in the ever-evolving real estate landscape.
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