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Gulshan Homz to invest Rs 400 cr on two projects in Delhi-NCR

Director expects market to revive post implementation of GST, RERA

Press Trust of India  |  New Delhi 

House, Buildings, Apartments, Real estate
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Realty firm on Monday said it will invest Rs 400 crore over next three years to develop two housing projects in and Greater

The company will build nearly 1,900 housing units in the two projects.

Noida-based has launched 768 units in a 5.3 acre housing project 'Gulshan Botnia' on Expressway for about Rs 48 lakh per unit.

In another project named 'Gulshan Bellina' in Greater Noida, also known as Noida Extension, the company is constructing 1,124 housing units on seven acre land.

Director Deepak Kapoor said the company will invest Rs 400 crore on of these two projects.

"All of the current phase would be through internal accruals, customer advances and financial institutions," said Kapoor, who is also President, CREDAI - Western UP.

He expects market to revive post implementation of the and real estate regulatory Act (RERA).

"Both the projects are compliant and all necessary approvals are well in place," Kapoor said, adding that the company targets to deliver the two projects by 2020 as per commitment to customers.

Gulshan Homz has so far delivered 4,500 units in the Delhi-NCR property market covering 4.3 million sq ft. It is developing about 1,900 units comprising 3.9 million sq ft.

First Published: Mon, July 17 2017. 17:44 IST