Gaursons to invest of Rs. 350 crore in a Residential project at Yamuna Expressway

Delhi News

The well-known reality company Gaursons planned to make an investment of Rs. 350 crore in its residential project Gaurs Runway Suites that is located at the Yamuna Expressway, the company informed via a press release.

Manoj Gaur, MD, Gaursons said that the internal accruals are used to offer financial funding for this project.

As per the UPRERA’s website, the realtor plans to complete this housing project by February 2027. The project will comprise of 828 commercial studio apartments at a starting price of Rs. 15.49 lakh.

Recently, the company made an announcement about raising Rs. 500 crore from the Kotak Mahindra group to execute its two projects that are located in the Noida Extension.

In August 2018, the Gaursons stepped into the Affordable Housing segment with an investment of Rs. 1,000 Crore in the two projects that are located in the National Capital Region [NCR]. While attending a CREDAI conference in Berlin, Manoj Gaur, the Managing Direction of the company had said that they have planned to construct a total of 7,000 housing units and they will be available at a price range between Rs. 15 to 25 lakhs. Both these projects are planned in Greater Noida and Ghaziabad in the National Capital Region.

These residential units will be handed over to the UP State Government under which the projects are located in order to benefit the people falling in EWS [Economically Weaker Section] and the financial funding for these projects will be managed through internal accruals and bank loans.