Gulshan Group is going to invest around ₹1,000 crore to develop a residential project named Gulshan Empire. They plan to develop this project in Phase-I, Sector-1 of Wave City. It is expected to generate sales of over ₹1,200 crore. As the Gulshan Group plans to expand its residential portfolio, it will strengthen the Noida real estate market and provide more property options to homebuyers.
It is a single-phase development that spans across 5.5 acres or 22,505 sq metres and has 500 residential units across six towers of 31 storeys each.
Last year, the director of the company, Deepak Kapoor, acquired land at a cost of about ₹175 crore. This project is designed by DFA Architects, and its completion is scheduled in accordance with the RERA timeline of 2031. The real estate company has launched about nine lakh sq ft in the first phase of sales. It has sold 200 apartments so far and manages around 40% of the project inventory.
Homes at Gulshan Empire are expected to be priced at a launch price of ₹10,500 per sq ft (super built-up). Earlier, the company also offered a pre-launch price of about ₹9,500 per sq ft (super built-up). It provides 3 BHK residences with a helper room starting at ₹2.20 crore, and 4 BHK residences with a helper room starting at ₹3 crore. Its launch reflects the growing demand in the Noida real estate market. It also allows investors and homebuyers to explore the best Noida property and make an informed investment decision.
Its 3BHK units have about 1,142 sq ft carpet area and 2,075 sq ft super built-up area, and 4BHK units have around 1,583 sq ft carpet area and 2,750 sq ft super built-up area. The company took a 125 crore loan from Tata to develop this project. The project is also funded through internal accruals and customer sales proceeds.
This project will be launched as part of the company’s future expansion plan. It includes the project on Yamuna Expressway in Sector 22-D, for which they acquired 3.5 acres of land at a cost of around ₹60–75 crore. They are also in the process of entering into a joint development agreement for 3.5 acres in Sector 150, Noida, for which they acquired land for about ₹50 crore.
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