Noida-based Gulshan Group has partnered with Ourika Estates to develop two land parcels in Ghaziabad and Lucknow, with a planned investment of ₹750 crore in the first phase, the company said in a statement on September 21.
As part of the partnership, the platform has acquired two strategically located land parcels directly from the respective development authorities through auctions.
“Over the development lifecycle of these two projects, the platform plans to invest over ₹750 crore towards creating about 1.50 million sq ft of built-up area across premium residential developments,” Gulshan Group said.
The initial developments mark the beginning of a larger expansion roadmap, with the platform evaluating opportunities across North India’s emerging growth corridors.
The first land parcel spans approximately 8,750 sq m in Madhuban Bapudham, Ghaziabad, and was acquired through an auction conducted by the Ghaziabad Development Authority (GDA). The project is envisioned as a premium residential development featuring planned layouts, contemporary architecture and lifestyle amenities, the company said.
The second parcel, spread across approximately 10,328 sq m, is located in Gomti Nagar Extension, Lucknow, and was acquired through an auction conducted by the Lucknow Development Authority (LDA). The site is located near Shaheed Path, Gomti Nagar Extension, IT City and Lucknow International Airport.
Gulshan Nagpal, promoter, Gulshan Group, said “Our association with Ourika Estates is a deliberate step towards creating a larger portfolio of premium, future-ready residential addresses.”
Deepak Kapoor, promoter, Gulshan Group, said “With these two strategically located developments in Ghaziabad and Lucknow, we are extending the Gulshan philosophy of quality, design and elevated living into new markets.”
Prasoon Chauhan, director, Ourika Estates, said that “with an initial investment outlay exceeding ₹750 crore, this vehicle is built to perform. Together, we are targeting high-potential locations to build world-class apartments that set a new paradigm for premium urban living."
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