On a cumulative sale of 9,954 property units, which is perhaps among the largest sales in a calendar year by any real-estate developer in the country, Gaurs Group has clocked a sale of nearly $500 million in the Delhi-NCR region in 2018.
With a lot of ready-to-move inventory available owing to sluggish real-estate sentiment in previous years, the company decided to offload its stock with lucrative schemes in Gaur City, a 237-acre integrated township, and subsequently in other projects.
“The reasons behind timely delivery over the years for Gaurs Group include the use of shuttering technologies in construction and financial discipline of utilising funds,” says Manoj Gaur, Managing Director, Gaurs Group. “Also, robust collections have led to faster construction of our projects and early possession of three projects this year.”
Gaurs Group has an aggressive plan for 2019 and is acquiring large land parcels for the Pradhan Mantri Awas Yojana (PMAY) scheme, primarily in NCR localities like Raj Nagar Extension, NH-24 and Greater Noida West as well as in Tier-II cities of northern India. The group will also invest Rs 40-50 billion in the affordable housing segment with nearly five to six new launches this year. Further, another mega commercial project will be launched within Gaur Yamuna City, its 250-acre township, which will house service apartments, along with facilities for shopping and entertainment and a hotel.
In the retail sector, the construction of Gaur City Mall, the region’s first and largest with an area of 16 lakh sq ft, is also nearing completion, with a proposed opening in April 2019.