With an investment of Rs 5000 crore, realty firm Gaursons has announced its new project ‘Gaur Yamuna City’ on the Yamuna Expressway in Greater Noida.
Ghaziabad-based Gaursons had bought this land from Jaypee Group for about Rs 1,700 crore in May, 2013. The land is situated close to Jaypee Group’s F1 track.
“We will be investing Rs 5000 crore in this township in the next four years which includes about Rs 1,700 crore land cost,” said Gaursons Managing Director Manoj Gaur.
“The project cost would be met from internal accruals and bank loans,” he added. When asked by The Pioneer about Company’s future plans Manoj replied that “This year our prime focus is to provide possession.”
The company will be constructing 20,000 housing units in the first phase which is spread over 300 acres. Price of these units will range from Rs 25-50 lakh depending on the size.
The basic selling price (BSP) has been fixed at Rs 2,095 per sq ft. Company has roped in another realty firm Saviour in this project. Asked about farmers’ protest in Greater Noida, Gaur informed there is no dispute on this land
Gaur said the construction of the project has started and the first phase would be delivered within 36 months. “We have done a technical collaboration with a Korean company for faster execution of real estate project”. Besides apartments, the township will have schools, hotel, service apartments and commercial area.v