New Delhi: Gaurs Group clocked possibly the biggest ever sale in real estate in the Delhi NCR region in 2018, selling close to 10,000 property units for a gross sales revenue of more than half a billion dollars.
The year 2018 has been incredible for the Gaurs Group. The group clocked a sale of nearly $500 million (Rs 3,900 crore) in Jan-Dec 2018, on a cumulative sale of 9,954 property units, which is perhaps the largest sale in a calendar year by any real estate developer in the country.
“Our group’s credo of ‘on-time, every time’ delivery in the 24 years, since inception, worked in our favour and translated into this outstanding achievement,” Manoj Gaur, MD of Gaurs Group, said.
There was a lot of ready-to-move inventory available due to sluggish real estate sentiment in the previous years. The Gaurs Group decided to offload the ready stock with lucrative schemes in Gaur City – its 237- acre integrated township – and, subsequently, in other projects.
Manoj Gaur says, “Our group enjoys immense trust and faith of homebuyers, which is the biggest satisfaction I have today. The reasons behind the timely delivery over the years for the group are Shuttering technology used in the construction and the financial discipline of utilizing funds. Also, the robust collections 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 PMAY Housing Scheme, primarily in the NCR localities like Raj Nagar Extension, NH-24, Greater Noida West, and also in Tier 2 cities of north India. The group is gearing to invest Rs 4,000-5,000 crore in the affordable housing segment with 5-6 new launches this year. Soon, another mega commercial project will be launched within Gaur Yamuna City, the 250- acre township, which will house service apartments, along with facilities for shopping, entertainment, and a hotel – all at one place.
In the retail sector, the construction of Gaur City Mall, which is the region’s first and the largest with an area of 16 lakh square feet is also nearing completion, with a proposed opening in April 2019 with the best of brands like Shoppers Stop, Lifestyle, PVR, Croma, Pantaloons and many more.
The group will soon launch another mall in Dehradun, where it has acquired a plot of 21,000 square metres, apart from Crossings Republik in Ghaziabad. A luxury housing project in a central location of the NCR is also on the cards.
In the hospitality sector, the group tied up with renowned hospitality brand, Sarovar Portico and Resorts, last year, to bring the region’s first luxury hotel at Gaur City. Recently, it tied up with an upscale hotel brand, Radisson, for a 180-key hotel at Gaur City Mall in Greater Noida West.