In one of the largest transactions in recent times, realty firm Gaursons India ltd on Friday said it has bought 300 acre on Yamuna Expressway in Greater Noida from Jaypee group for more than Rs 1,500 crore to develop an integrated township.
The Ghaziabad-based company will launch the township by the end of this year and plans to construct about 15,000 apartments in affordable segment.
“We have purchased 300 acre land from Jaypee Group on Yamuna Expressway for more than Rs 1,500 crore. The agreement between the two companies has already been signed,” said Gaursons India Managing Director Manoj Gaur .
Gaur said the company has already paid about 25 per cent of the total amount of the deal. The funds has been arranged through bank loans and internal accruals.Jaypee Group has a huge land bank of 6,000 acre on Yamuna Expressway starting from Noida, going up to Agra.