Here are major NCR housing launches announced in the past week.
Gaur Housing Project
Realty group Gaurs has announced that its new project will be in the range of Rs 20-30 lakh as there are not enough such options in NCR.
“We understand that those who earn between Rs 20,000 and Rs 30,000 are the ones who need a home the most, but they don’t have enough choices, and the markets of Noida and Greater Noida are out of their reach,” said Manoj Gaur, Managing Director, Hindu Business Line reported.
“These days people don’t buy a house after retirement, which was the trend two decades ago. Now, the highest demand comes from young parents and the amenities are being designed keeping them in mind.”
These projects reportedly will have one-bedroom and two-bedroom flats of sizes ranging from 600 sq ft to 900 sq ft and each project will have 4,000 apartments. Two-three such projects are said to be launched in Noida and Ghaziabad by the end of this financial year.
The company is reportedly investing in technology that will bring down the construction cost, which is the biggest challenge under this category. It is also exploring options in the commercial segment and plans to launch two malls this year.
Gurgaon based Chintels Group is set to invest over Rs 300 crore over the next five years to develop a housing project at Dwarka Expressway in Gurugram. The project will have 324 housing units in the second phase of its housing project called Chintels Serenity.
The company has reportedly constructed 120 units at a cost of Rs 155 crore under the project’s first phase. The second phase will be ready by 2023-end.
Chintels Group is quite active in the Dwarka Expressway area. The group has a huge land bank in the region and has tied up with realty players like Sobha and ATS Group to develop housing projects.