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Gaurs Group buys 35-acre land parcels along Yamuna Expressway from ICICI Bank for around ₹700 crore
Gaurs Group buys 35-acre land parcels along Yamuna Expressway from ICICI Bank for around ₹700 cr
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New Delhi, Aug 30 (PTI) Realty firm Gaurs Group has acquired 35-acre land parcels along Yamuna Expressway from ICICI Bank for around ₹700 crore to develop residential projects as part of its expansion plan.
The company bought three land parcels in Sector 18 along the Yamuna Expressway, which connects Noida and Greater Noida to Agra, at an auction from ICICI Bank.
"We have acquired 35 acres of land parcels from ICICI Bank for around ₹700 crore," Gaurs Group Chairman Manoj Gaur said.
There are three land parcels, with a 24-acre plot being the largest.
"The land has been acquired in an open auction from ICICI Bank Ltd on an as-is, where-is basis. We are settling all the pending dues like EDC, farmer compensation etc," the company said.
Gaurs Group, which is one of the leading real estate developers in Delhi-NCR, plans to launch the project on the 24-acre land parcel. Gaur said the company plans to launch 3-4 housing projects by March next year at Noida and Yamuna Expressway.
The Group clocked sales bookings of ₹5,500 crore during the last fiscal year. Looking at the launch pipeline, it is expecting to replicate or better its pre-sales performance in the 2026-27 fiscal.
During this fiscal, Gaurs Group has already launched one housing project on Yamuna Expressway with a total revenue potential of ₹1,900 crore.
Gaur said demand continues to be strong in Noida, Greater Noida and Ghaziabad due to lack of new supply from reputed developers.
He said the company is also planning to expand its rental asset portfolio and will launch a large commercial project in Noida.
Also Read: Gaurs Group launches luxury project near Noida airport, eyes ₹1,900 crore sales realisation
At present, Gaurs Group earns rental income of around ₹150 crore per year from commercial assets, including shopping malls. In nearly three decades, Gaurs Group (Gaursons India Pvt Ltd) has developed over 100 million sq ft area, and delivered more than 75,000 homes across 75 projects, including three integrated townships.
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The Group has also diversified into retail, education, sports and solar energy sectors.
