Delhi-NCR-based developer KW Group has acquired a 1.5-acre freehold land parcel in Indirapuram, Ghaziabad, for ₹133.98 crore through an auction conducted by the Ghaziabad Development Authority (GDA). The project has an estimated development potential of around 5 lakh sq ft and a gross development value (GDV) of approximately ₹877 crore. The acquisition cost is exclusive of stamp duty and registration charges., the company said in a statement on Nov 12. The project is also backed by a ₹150 crore commitment from ASK Property Fund, the real estate investment arm of ASK Asset & Wealth Management Group, which is backed by Blackstone. KW Group plans to begin construction soon after obtaining the necessary statutory approvals from the relevant authorities.
“Indirapuram is one of NCR’s most established residential addresses, and the families who live and work here have grown with it. Until now, a buyer looking for a luxury home has had to look towards Delhi, Noida or Gurugram. We want to offer that home in Indirapuram itself through a limited collection of large-format residences, built with the privacy, space and construction quality that luxury buyers expect,” said Pankaj Kumar Jain, director, KW Group.
ASK Property Fund’s participation reflects confidence in both the location and the developer's 27-year execution record, Jain said.
Developers eye Ghaziabad for premium housing projects
Ghaziabad's residential market is gradually moving up the value chain, with demand increasingly coming from established homeowners looking to upgrade. However, new luxury housing supply in mature residential locations such as Indirapuram remains limited, the company said. The acquisition comes amid growing interest from institutional developers in Ghaziabad's premium housing market.In September 2026, Max Estates disclosed in a regulatory filing that it plans to enter Ghaziabad through a proposed joint development agreement for a 9.76-acre land parcel in Indirapuram. The proposed project has a development potential of approximately 1.5 million sq ft and an estimated GDV of ₹2,500–3,000 crore.Bengaluru-based Prestige Group has also entered the Ghaziabad market. In April 2025, it launched its first housing project in Delhi-NCR, with an estimated revenue potential of around ₹12,000 crore.Also Read: ₹7k cr">Prestige Group to launch two housing projects in Delhi-NCR this fiscal with potential revenue of ₹7k crThese developments point to growing institutional interest in Ghaziabad's premium housing market as the city seeks to move beyond its traditional identity as an affordable housing destination.
Also Read: Max Estates bets on Ghaziabad: What Delhi–Meerut Expressway’s premium housing push means for buyers
{{/usCountry}}Also Read: Max Estates bets on Ghaziabad: What Delhi–Meerut Expressway’s premium housing push means for buyers
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