Realty firm Gaurs Group announced that it had sold nearly 200 apartments in its new luxury housing project in Greater Noida for Rs 13 billion, driven by strong consumer demand. The company had launched a luxury residential project named Legacy by Gaurs, which includes around 250 units at Jaypee Greens, Greater Noida.

According to a statement from the company, the first phase of the project had generated Rs 13 billion in sales, with almost 200 apartments sold. The project features spacious residences in two configurations: 3,500 sq ft and 4,700 sq ft, spread across four towers, with a total of around 250 apartments.

Sarthak Gaur, Director of Gaurs Group, expressed that the overwhelming response to Legacy by Gaurs was a true reflection of the trust and confidence that homebuyers had in the company. He added that, for over 30 years, the company had focused on delivering not just homes, but long-term value to its customers. Gaur also mentioned that the group had delivered nearly 50,000 units in the past decade alone. He further noted that the company would invest approximately Rs 750 crore to develop this luxury housing project in Greater Noida.

Gaurs Group Chairman and Managing Director, Manoj Gaur, had also stated that the company would soon launch a new housing project in Greater Noida, which would cover 12 lakh sq ft of developable area. He mentioned that the project would cost around Rs 7.5 billion , including land and construction expenses. The company had acquired the land from banks and was already developing another project at the same location.

As the chairman of the realtors' apex body, CREDAI, Manoj Gaur commented that demand in Noida and Greater Noida remained strong, but there was a lack of sufficient supply in the market.

Last month, Gaurs Group announced plans to develop a 17-acre commercial project in Noida with an investment of Rs 40 billionas part of its strategy to build rental assets. The company would develop 5 million sq ft of commercial space in this Grade-A project, which would include 2.5 million sq ft for retail, 2 million sq ft for office space, and a hotel with over 300 keys. Manoj Gaur explained that the project would be developed on a lease model to increase the company's annual rental income, which currently exceeds Rs 1.25 billion. The company aimed to start construction of this commercial project next year. Gaurs Group, one of the leading real estate developers in the Delhi-NCR region, is also planning to launch its initial public offering (IPO) within the next 18 months.