Gaursons Debut in Affordable Housing Segment

Gaursons Debut in Affordable Housing Segment with Two Project in NCR

NCR News

After being the name of success in the real estate sector, the Gaursons has now entered into the Affordable Housing segment of the Indian property market. The group has made an investment of Rs. 1,000 Crore in two projects which are located in the National Capital Region [NCR]. While attending a CREDAI conference in Berlin, Manoj Gaur, the Managing Direction of the company said that they have planned to construct a total of 7,000 housing units which will be available at a cost price of 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.

Also, both these projects are planned according to the guidelines that are framed for the construction of Affordable Homes under the PMAY [Pradhan Mantri Aawas Yojna] which was launched by the Narendra Modi-led Central Government in the year 2016 with the aim to offer Housing for All by 2022. The beneficiaries of this scheme will also receive an interest subsidy offered by the Central Government.

The land parcels for the construction of these two projects has been finalized as the Gaurson group has bought 25-acres land on Yamuna Expressway in Greater Noida and 8-acre land parcel at Crossing Republic, Ghaziabad.