Real Estate News

October 13, 2024

Gaurs Group's Massive Noida Investment: A 17-Acre Commercial Leap

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Realty giant Gaurs Group has announced plans for a significant investment of Rs 4,000 crore to develop a vast 17-acre commercial property in Noida. This strategic move is part of the firm’s broader strategy to bolster rental assets, according to Chairman and Managing Director Manoj Gaur.

The upcoming Grade-A project on the Noida Expressway will offer 5 million square feet of commercial space, comprising retail, office spaces, and a hotel with over 300 rooms. The project, designed to operate on a lease model, aims to significantly boost the company’s annual rental income, which currently exceeds Rs 125 crore.

With intentions to commence construction before March 2024, Gaurs Group is set to finance the venture through internal accruals and bank loans. The company, optimistic about the thriving NCR housing market, also revealed a potential public offering in the next 18 months to expand its business in response to robust consumer demand.

(With inputs from agencies.)

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